Bastion Management, a private investment firm focused on asset-based lending in the specialty finance sector, agented a senior debt investment of $40 million with accordions up to $100 million for Okinus to refinance its existing senior lender and fund future growth of its lease-to-own portfolio.
Okinus provides financing solutions for a wide range of products, including furniture, appliances, electronics, jewelry and HVAC equipment. The company works closely with its extensive network of approximately 1,000 third-party retailers, enabling customers to access financing options through both in-store and online transactions.
“We are thrilled to have secured this line of credit, which not only validates our vision and potential but also provides us with a strong foundation to execute our growth strategies,” Gary Allen, CEO of Okinus, said. “This investment will enable us to accelerate our expansion plans, reach new markets and provide even more flexible and accessible options for our valued customers.”
“We are excited about our partnership with Gary and the Okinus management team as they continue their mission of delivering innovative financial solutions that meet the diverse needs of consumers,” Jay Braden, CEO of Bastion, said. “This facility will enable Okinus to further expand its reach, enhance its product offerings, and enable it to serve a wider customer base.”
