NewStar Business Credit announced it has provided $24 million of senior secured credit facilities to Sock and Accessory Brands Global (SABG).

Advance, NC-based SABG is a designer of private label, licensed and branded casual and athletic socks distributed to a wide range of retailers, including specialty footwear retailers, sporting goods stores, department stores and discount retailers.

SABG is a portfolio company of Huron Capital Partners, an operationally-focused private equity firm investing in lower middle market companies.

The credit facilities together with $11 million of junior capital provided by NewSpring Capital, is being used to refinance existing debt and support the company’s ongoing working capital needs.

“SABG is pleased to have broadened its investor base with two new financial partners and we look forward to working with them as we continue to execute on our growth initiatives”, said Tom O’Riordan, CEO of SABG

“NewStar is pleased to support SABG’s growth plans with a flexible financing package. We are also excited about the opportunity to work with an innovative company managed by a smart team with strong backing from an investor like Huron Capital,” added NewStar EVP and national marketing manager, Milton Iskra.

The transaction was originated by John Rossi, a senior vice president located in NewStar’s Boston office.