Second Avenue Capital Partners (SACP), a Schottenstein affiliate, along with TCW Private Credit and Sagard Credit, closed a term loan and revolving credit facility for True Religion Apparel. SACP served in various roles for the transaction including sole arranger, revolver agent, sole revolver lender and term loan lender.
Proceeds from the new credit facility will refinance existing debt, support ongoing working capital needs, and provide liquidity to meet the company’s long-term growth plans.
“This transaction reflects a genuine partnership between our team and the lending group,” Michael Buckley, CEO of True Religion, said. “SACP was able to structure a creative financing solution to meet our needs and support our business objectives to propel True Religion’s growth.”
“We are thrilled to partner with Michael Buckley and the team at True Religion as they enter this exciting next stage of growth,” Michael Russell, managing director of Second Avenue Capital Partners, said.
“The management team’s ability to take what was already an iconic brand and reposition it by leaning into its origins, making True Religion relevant to a new generation, is impressive,” Chris O’Connor, president of Second Avenue Capital Partners, said. “This transaction underscores our dedication to partnering with dynamic companies to drive value and fuel innovation.”