First Eagle Alternative Credit, the alternative credit platform of First Eagle Investments, provided a $20 million term loan to Nicole Miller, a global fashion and lifestyle brand. The term loan will help finance the company’s initiatives to partner with its licensees to build the brand’s e-commerce presence and develop strategic relationships.
The global, eponymous fashion and lifestyle brand was founded by Nicole Miller in 1982 and has become one of the premier names in American fashion. In addition to its womenswear collections, the company has partnered with leading licensees in numerous categories, including handbags, shoes, jewelry, fragrance and beauty, and home.
Gordon Brothers, the global advisory and investment firm, made a majority investment in Nicole Miller earlier this year to help the already highly successful enterprise drive further growth.
“This financing was a great opportunity for First Eagle to provide capital through our asset-based lending strategy to a growing global brand, enabling it to further develop its key business relationships and enhance its online presence,” Larry Klaff, senior managing director and head of Asset Based Loans at First Eagle Alternative Credit, said. “Asset-based loans are an effective, well-proven financing structure and this deal underscored the value we see within Nicole Miller, specifically its strong intellectual property assets.”
“First Eagle understands how to evaluate brand value and worked to provide flexible capital to fit the business’ needs,” Tobias Nanda, president, Brands at Gordon Brothers, said. “The team worked quickly, helping us optimize the company’s capital structure to support future growth.”