“We admire Arhaus’s senior leadership team and associates who proactively reached out directly to prospective and current customers to facilitate purchasing decisions, offered private in-store showings where allowed, promoted online shopping and focused on digital marketing during the government-mandated pandemic closures,” John Rosin, president and COO of Wingspire Capital, said.
Arhaus is using the new senior secured loan to replace a previous debt instrument and fund day-to-day financial needs.
“Working with a financial partner that takes the time to truly learn and understand our business and our capital needs is an asset for our entire enterprise,” John Reed, founder and CEO of Arhaus, said. “Having a supportive capital partner during this stage of growth and innovation creates enormous value for our employees and our customers.”
Wingspire Capital focuses on the upper tier of the senior secured asset-based lending and ABL stretch market by providing revolving credit lines and term loans ranging from $20 to $200 million.