Encina Business Credit provided a $15 million asset-based revolving credit facility to Running Specialty Group, a Denver-based retailer of high-performance athletic footwear, apparel and accessories operating under the name JackRabbit.
The revolver was secured by accounts receivable and inventory. JackRabbit used the proceeds to refinance the company’s existing senior secured asset-based credit facility, to facilitate the company’s recent acquisition of e-commerce fitness gear provider Clever Training and to provide working capital.
JackRabbit is owned by an affiliate of CriticalPoint Capital, a private investment firm focused on corporate divestitures, companies in a state of transition and special situations.
