Second Avenue Capital Partners closed on a senior secured credit facility for Cos Bar, a luxury specialty cosmetics retailer. The credit facility will be used to support new growth opportunities and provide additional working capital.
“Cos Bar has developed and nurtured a loyal following that has positioned the company for continued success,” Chris O’Connor, president of Second Avenue Capital Partners, said. “It is exciting to partner with the team at Cos Bar as they continue to build on their achievements. Their vision for a plan to reach new consumers and expand on their approach to the luxury cosmetics and skincare buying experience is one that SACP recognized the value of and wanted to help facilitate.”
Cos Bar founder Lily Garfield opened the company’s first store in Aspen, CO, in 1976. The company is now a luxury, multi-brand, omnichannel beauty retailer. In 2015, Cos Bar received support from Tengram Capital Partners, a private equity firm that focuses exclusively on consumer and retail companies.
“Second Avenue Capital Partners has been a pleasure to work with throughout this process,” Veeral Sheth, CFO of Cos Bar, said. “They were mindful of our brand’s integrity and respectful to all our team members and their unique requests for a customized financing solution. As we explore new avenues for growth, the financing and support from SACP will allow us to do what we do best: delivering the world’s best beauty buying experience.”
“We’ve worked with Second Avenue Capital Partners in the past and we felt that they were the best fit for some of the unique requirements of Cos Bar,” Grace Bernier of Tengram Capital Partners, said. “SACP’s focus and experience in the consumer and retail categories delivers added value and flexibility to the company and their vision for the future.”
