Daily News: June 27, 2012

Salus Capital Partners Closes Facility for Hyde Park

Salus Capital Partners, LLC announced it has provided a senior secured working capital facility to Hyde Park, Inc., a purveyor of contemporary fine jewelry in the Colorado, Nevada and Arizona markets. The financing will be used to provide working capital for general corporate purposes.

“Hyde Park is very pleased to have chosen Salus Capital Partners, LLC as our lender for the next growth phase of our company. After significant review of numerous proposals submitted by other top tier lending institutions, we felt the terms provided by Salus Capital created the best solution to assist us in our future plans,” said Michael Pollak, co-founder and chief executive officer of Hyde Park, Inc.

“Hyde Park is synonymous with high quality, integrity and fairness,” said Marc S. Price, SVP, Loan Originations and Corporate Strategy of Salus Capital. “As a subsidiary of Harbinger Group, Inc., we collaborate in structuring facilities that balance our entrepreneurial approach to credit risk and the unique attributes of the jewelry industry. We are pleased to partner with Hyde Park in providing a capital solution that will enable the company to continue to operate as one of the preeminent independent jewelers in the nation.”

Salus Capital is a provider of senior secured asset-based loans to the small and middle-market across a variety of industries.