Second Avenue Capital Partners closed on a $10 million senior secured credit facility for the maternity apparel sister brands Motherhood Maternity and A Pea in the Pod within the Marquee Brands portfolio.
Motherhood Maternity and A Pea in the Pod will use the credit facility for general working capital purposes and to provide additional liquidity for future expansion to implement post-COVID-19-pandemic digital growth initiatives.
At a time when the retail industry shifted focus from brick-and-mortar stores to online shopping, Motherhood Maternity and A Pea in the Pod were already in the process of transition. Following the acquisition by Marquee Brands in 2019, the maternity brands trimmed their brick-and-mortar footprint with a final exit from standalone storefronts in early 2020. Those moves positioned the two brands to focus attention on their respective websites and social platforms.
“We appreciate the efforts from the team at Second Avenue Capital Partners and their comprehensive approach to not only understand our current business but to bring forth a flexible strategy to support the investment in our future growth initiatives,” Marla Ryan, brand executive vice president at Motherhood Maternity and A Pea in the Pod, said. “As we look to catapult forward in a post-pandemic world and build upon our community connection with mothers, SACP was a natural choice for us based on their e-commerce and retail knowledge.”
“These two maternity brands sit in a highly unique, niche market and possess an enviable e-commerce platform,” Chris O’Connor, president of Second Avenue Capital Partners, said. “We knew we could provide them with a capital solution that would exceed their expectations. This facility will serve their business goals as they focus on developing a leading global marketplace and collaborate with strategic partners to achieve continued brand growth. It is an exciting time for companies in the e-commerce space, and we’re excited to play a role in supporting these category leaders’ continued success.”
