Daily News: June 6, 2012

Salus Capital Partners Closes $3MM Facility for Brodkey Brothers

Salus Capital Partners, LLC announced it has provided a $3 million senior secured working capital facility to Brodkey Brothers, Inc., a family-owned and operated chain of Midwest jewelry stores founded in 1880. The financing will be used to provide working capital for general corporate purposes.

“We are excited about our new credit facility and are looking forward to a great working relationship with Salus Capital Partners,” said Sherman Brodkey, president of Brodkey Brothers, Inc.

“This credit facility further demonstrates our commitment to the jewelry industry,” said Marc S. Price, senior vice president, Loan Originations and Corporate Strategy of Salus Capital. “As a subsidiary of Harbinger Group, Inc., we are committed to a progressive approach designed to meet the specific needs of leading jewelers throughout North America. Brodkey Brothers has a long standing tradition of providing best-in-class products and service within the retail jewelry industry and we are pleased to partner with a seasoned set of operators and a devoted ownership in the Brodkey family.”