Daily News: October 24, 2012

Salus Capital Surpasses $250MM in Commitments Since Launch

Salus Capital Partners, a subsidiary of Harbinger Group, announced it has recently surpassed $250 million in new loan commitments since launching in January 2012.

Salus said it has provided credit facilities to 16 companies throughout North America for purposes of growth/working capital, acquisitions or opportunistic situations, turnarounds, dividend recaps, refinancing and debtor-in-possession.

The Salus platform primarily serves the middle-market where commitments typically range between $3 million to $30 million with the ability to lead and agent larger transactions. To date, representative transactions include: American Apparel, HMX (Hartmarx/Hickey Freeman), Frederick’s of Hollywood, Hyde Park and China Pearl.

“We are very pleased with the growth demonstrated by the team at Salus Capital during its first year of operations. Salus is uniquely positioned to serve the middle-market, providing much needed financing for businesses in today’s economy,” said Omar Asali, president of HGI.

“Our continued ability to offer relevant and timely capital solutions to the middle-market has been a key driver in our success,” said Andrew H. Moser, president of Salus Capital Partners. “We are passionate about our product offering and keen ability to proactively address the needs and goals of our borrowers as well as, our ability, together with our investors, to think outside of any predetermined credit box.”