Pathlight Capital is serving as administrative agent on a $180 million senior secured credit facility for Christmas Tree Shops, a brick-and-mortar discount retailer with a focus on seasonal products.
The $180 million facility, which was completed on Nov. 12, 2020, will be used to finance the acquisition of Christmas Tree Shops by Handil Holdings and provide additional liquidity for ongoing working capital needs.
“Handil Holdings is pleased to be working with Pathlight in our acquisition of the Christmas Tree Shops. The Pathlight team has worked closely with us to develop a credit facility with the goal of ensuring liquidity for the continued success of the business. The facility enables the company to execute on new initiatives, secure key merchandise expansion and provides the necessary capital for technology upgrades that will support its growth,” Marc Salkovitz, executive chairman of Handil Holdings, said.
“Marc and his team have a compelling vision for the future success of Christmas Tree Shops. We are excited to be involved in the continuing evolution of the company and we look forward to working with Marc and the entire CTS management team,” David Helmes, managing director of Pathlight, said.
Pathlight Capital is a private credit investment manager.
Handil Holdings acquires and operate retail ventures.
