Siena Lending Group completed a $7 million asset-based revolving credit facility for Lime Crime. The facility will be used to support the company’s working capital needs and continued growth.
Woodland Hills, CA-based Lime Crime is a cosmetics and hair color brand majority-owned by private equity firm Tengram Capital Partners. Founded in 2008 by Doe Deere, Lime Crime designs trend-setting products with whimsical packaging and experiences to make their customers feel “magical.” Lime Crime offers cruelty-free and vegan makeup products which include lipsticks, eyeshadows, hair tints, pop on nails, makeup brushes and highlighters. One of the first digitally-native, direct-to-consumer beauty brands, Lime Crime now has more than 3.5 million Instagram followers.
Scott Elliotto, director of Siena, said, “Due to Lime Crime’s significant growth, they needed a lender that could execute in a short time frame and we were confident we could meet it. The transaction was completed in 3 ½ weeks. Tengram has proven to be a great partner and we look forward to working with another portfolio company.”
Rich Gersten, a partner at Tengram, said, “We have worked with the Siena team before and we knew they would be able to move quickly under our tight time frame. Siena has been a great partner for Tengram.”