Second Avenue Capital Partners and White Oak Commercial Finance have closed on a $16 million asset-backed revolving credit facility for Marolina Outdoor, a Charleston, SC based apparel company.
Founded in 2013, Marolina Outdoor designs and markets premium authentic performance apparel under the Huk and Nomad brands. The two brands include a full line of technical shirts, jackets, footwear and other accessories that meet the needs of fishing and hunting enthusiasts. The brands are sold through leading sporting goods retailers, independent specialty stores, and directly to consumers.
Marolina is a portfolio company of Goode Partners, a New York based private equity firm focusing on high-growth potential, consumer-oriented companies.
“We are excited to work with Goode Partners in supporting the tremendous growth of Marolina,” said Chris O’Connor, president of Second Avenue Capital Partners. “The company has built two of the most exciting brands in outdoor apparel: Huk and Nomad. Our team at SACP has avid hunters, fishermen and boaters who have worn the brands for years for its performance and modern aesthetic. With this new credit facility, the company will have additional working capital, enabling the brands to reach an even wider customer base.”
“Marolina has built a seasoned team of design and innovation-focused leaders who know how to build successful brands,” said Robert Grbic, president and chief executive officer of White Oak. “The management team and Goode Partners have a clearly defined plan to continue the growth of the business. Alongside SACP, we were able to provide growth capital to add fuel to this rapidly growing business. We look forward to supporting them as they drive the business toward their goals.”
