White Oak Commercial Finance provided a $50 million asset-based revolving credit facility to an athletic footwear and apparel retailer based in the U.S.
The retailer recently activated a roll-up of several brands led by a private equity firm, and the transaction was structured with advances against the company’s inventory, accounts receivable and intellectual property. The proceeds will be used to refinance existing debt and to provide for ongoing working capital needs.
“The company was in search of a seamless, one-stop solution to allow them to focus on its operations and growth targets,” Bill Kearney, managing director at White Oak Commercial Finance, said. “It was White Oak’s retail industry expertise, scalable funding and timely execution that helped the business achieve its financing objectives.”