Chicago Atlantic served as sole arranger on a $17.5 million senior secured term loan to Azuna, a Buffalo, New York-headquartered direct-to-consumer odor-elimination and air care company. The financing will support Azuna’s continued growth and retail expansion.
“Azuna has built a differentiated, fast-growing brand in a category where consumers have long been underserved by products that simply mask odors,” David Enright, partner and head of direct lending at Chicago Atlantic, said. “Scott and his team have combined a superior product, a loyal subscriber base and a secure supply of premium tea tree oil. We are excited to support Azuna’s next phase of growth.”
Scott Dancy, founder and CEO of Azuna, added, “Chicago Atlantic took the time to understand our business model and the growth capital needed and tailored a solution that fits where we are now and will be in the future. Azuna is now positioned to go further and faster. I can’t express how excited we are to have Chicago Atlantic as a partner.”
