Daniel’s Jewelers, a 105 store nationwide jewelry retailer serving a growing and diverse customer base, closed on a new senior credit facility provided by SLR Credit Solutions, a provider of direct private credit to middle-market companies.
Proceeds of the new credit facility have been used to refinance Daniel’s existing debt and provide the company with greater flexibility for growth opportunities.
“We are excited about this new financing partnership with SLR, as it will facilitate our continued growth and expansion. There are so many opportunities in our industry and partnering with seasoned veterans who understand retail jewelry is a great luxury,” David Sherwood, CEO of Daniel’s and grandson of the founder, said. “We are actively collaborating with a variety of industry stakeholders to capture the exciting market opportunity we see ahead with the growing and diverse demographic – mostly Hispanic – that we have served for decades.”
“Having been in business for over 75 years, Daniel’s Jewelers has built a well-respected brand with a loyal customer base across a growing geographic footprint and is led by an experienced management team,” Rob Burns, principal of SLR Capital Partners, said. “We are excited to partner with Palladium and Daniel’s and look forward to supporting the company in its next stage of growth.”
“SLR is a natural partner for Daniel’s Jewelers given our depth of knowledge and experience in the retail, consumer product, and specialty finance sectors, and we are thrilled to be a part of the company’s continued success,” Michael Stavrakos, managing director at SLR Credit Solutions, said.
Daniel’s Jewelers was advised by ECS Debt Advisory in the refinancing transaction.
