Gordon Brothers, the global asset experts, provided C$30 million to finance the Canadian women’s clothing retailer Northern Reflections’ acquisition of two other Canadian women’s retailers, Cleo and Ricki’s.
The firm’s financing, consisting of a C$20 million revolving credit facility and a C$10 million incremental commitment, supported Northern Reflections brand portfolio expansion and will continue to fund future growth under the brand’s new owner Putman Investments.
“We’re proud to support Northern Reflections’ acquisition of Cleo and Ricki’s through multiple complex sale transactions and continue our growing strategic partnership with Putman Investments,” Kyle Shonak, chief transaction officer at Gordon Brothers, said. “Our deep asset and industry expertise, holistic solution and financing to support Northern Reflections highlights our continued commitment to supporting Canadian businesses with custom integrated solutions.”
“Gordon Brothers’ ability to navigate multiple complex transactions and deliver a comprehensive solution was critical in our acquisition of Cleo and Ricki’s and allowed us to strategically expand Northern Reflections’ portfolio, positioning the business for future growth,” Doug Putman, founder of Putman Investments, said. “We continue to work with Gordon Brothers because of the firm’s flexibility, tailored financing, deep expertise and wide array of services that support Canadian retailers.”
