Second Avenue Capital Partners closed on a $17 million senior secured credit facility to Crown & Caliber, an online marketplace for authenticated preowned watches. The credit facility will be used to support growth opportunities and provide additional working capital.
“As we continue to innovate the re-commerce landscape, we wanted a partner that understood the nuances of our business and could help us structure a capital solution that matched our needs,” Hamilton Powell, founder and CEO of Crown & Caliber, said. “We’re pleased to partner with Second Avenue Capital Partners and believe they are the best choice to support our future growth.”
Founded in 2013 in Atlanta, Crown & Caliber is an e-commerce platform to buy and sell pre-owned watches. Crown & Caliber offers a curated selection of brands such as Rolex, Omega, Breitling, Panerai, Patek Philippe and Tag Heuer.
“Hamilton and his team have built an industry-leading company that has redefined the re-commerce watch market,” Chris O’Connor, president of Second Avenue Capital Partners, said. “With consumers continuing to move towards e-commerce and an increase in pre-owned luxury good purchases, Crown & Caliber has positioned themselves for continued success. We are excited to partner with the company as they continue to build on the success of their innovative marketplace and reach more consumers.”
Second Avenue Capital Partners, a Schottenstein Affiliate, is a finance company specializing in asset-based loans for the broader retail and consumer products industry.
