Daily News: August 21, 2018

Second Avenue Provides $12MM Exit Financing to A’GACI


Second Avenue Capital Partners provided a $12 million revolving line of credit to A’GACI to be used as exit financing as the company emerges from Chapter 11.

“We’re proud to partner with A’GACI and help the company meet their growth objectives,” Chris O’Connor, president of Second Avenue, said. “The relationship we’ve formed with the team at A’GACI has enabled us to support their needs at this critical time.”

Founded in 1971 and based in San Antonio, TX, A’GACI is a lifestyle brand and fast fashion retailer which sells affordable trendy styles for young women.

A’GACI will be led by managing partner David Won, who co-founded the company with his brother John. Won put together a sustainable plan, allowing the company to exit from bankruptcy and preserve 1,500 jobs.

“Second Avenue Capital Partners was there when we needed them. They have a very different way of looking at things,” Won said. “It’s their entrepreneurial approach and their merchant perspective that sets them apart from other lenders. Their retail connection was important to us. SACP could see our vision for the future, and they valued it.”

Follow the story on ABF Journal:

SSG Advises A’GACI on Chapter 11 Reorganization