Salus Capital Partners said it increased its senior-secured credit facility for HiTouch Business Services to $52.5 million as of December 2014. HiTouch will use the financing for working and growth capital.
“The Salus credit facility provides HiTouch with significant financial resources and the flexibility needed to invest in our business to drive growth,” said Howard Brown, chairman and CEO of HiTouch Business Services. “Salus’ unique approach to lending has met all of our financial needs and capital requirements allowing our organization to forge an innovative path in the office supply space by providing complete and differentiated business solutions.”
“It is a privilege to continue our working relationship with an entrepreneur such as Howard and his executive team,” said Andrew H. Moser, co-founder, president and CEO of Salus Capital. “The expanded Credit Facility will enable HiTouch to further leverage its business model and gain additional market share. We remain focused on helping to propel our borrowers forward and to help them exceed their goals.”
Saddle Brook, NJ-based HiTouch is a full-service business services company with a nationwide network of local distribution centers.