Schottenstein affiliates Second Avenue Capital Partners (SACP) and SB360 Capital Partners (SB360), providers of customized solutions for the retail and consumer product sectors, along with Ares Commercial Finance (Ares) closed a $112 million senior secured revolving credit facility and term loan for Backcountry, a specialty retailer of outdoor gear and apparel. The new financing package refinanced a previous facility and supported the company’s acquisition by venture-backed firm CSC Generation Enterprise.
“We are thrilled to partner again with the CSC team,” Mark E. Gallivan, managing director of Second Avenue Capital Partners, said. “When they approached us to support their acquisition of Backcountry, we jumped at the opportunity to support a sponsor who we’ve seen first-hand succeed in the specialty retail sector.”
“Second Avenue Capital Partners has been our go-to source of financing for several years,” Justin Yoshimura, CEO of CSC, said. “We are incredibly excited about the Backcountry deal and the opportunity to shepherd the business into its next era of success. With their sector expertise, having SACP and SB360 as financing partners allows us to focus on executing our business plan, knowing they have our financing needs covered.”
“As an affiliate of the Schottenstein organization with significant expertise in collateral, SB360 was able to offer added flexibility in structuring this type of financing,” Aaron Miller, president of SB360, said. “Collectively, we could better tailor the solution to meet Backcountry’s unique needs. This deal also afforded us an exciting opportunity to collaborate with Ares Commercial Finance, a lender that shares our vision and approach, creating a powerful partnership in delivering this financing.”
