Pathlight Capital Upsizes Term Loan Credit Facility to $200.6MM for Franchise Group

Pathlight Capital closed a $133.5 million upsize to the existing senior secured term loan credit facility to a Franchise Group affiliated special purpose vehicle to support an incremental purchase of a portfolio of performing receivables from W.S. Badcock Corporation, a home-furnishing retailer

September 14, 2023 Brian Kahn | Christopher Arnold | Franchise Group | Pathlight Capital Ian Koplin

B. Riley Financial Leads Financing for Management Buyout of Franchise Group

B. Riley Financial led the equity financing to facilitate the $2.8 billion management-led acquisition of Franchise Group. B. Riley invested $216.5 million of new capital in the transaction.

August 28, 2023 B. Riley Financial | Brian Kahn | Bryant Riley | Franchise Group | Sullivan & Cromwell Ian Koplin

Pathlight Capital Increases Term Loan Credit Facility for B. Riley Receivables II to $198.7MM

Pathlight Capital closed a $78.3 million upsize to the existing senior secured term loan credit facility to an SPV majority owned by a subsidiary of B. Riley Financial to support an incremental purchase of a portfolio of performing receivables from W.S. Badcock.

February 7, 2023 B. Riley Financial | Brian Kahn | Bryant Riley | Christopher Arnold | Franchise Group | Pathlight Capital | W.S. Badcock Ian Koplin

JPMorgan Chase Upsizes Franchise Group’s Term Loan

Franchise Group, an owner and operator of franchised businesses, upsized its existing first lien term loan of $300 million. JPMorgan Chase Bank acted as lead left arranger for the financing.

February 6, 2023 Franchise Group | Jefferies Finance | JPMorgan Chase | UBS Investment Bank Ian Koplin

Pathlight Capital Agents $148.2MM Senior Secured Term Loan to B. Riley

Pathlight Capital is serving as the administrative agent on a $148.2 million senior secured term loan credit facility to an SPV majority owned by a subsidiary of B. Riley Financial to support the acquisition of a portfolio of performing receivables from W.S. Badcock Corporation.

October 19, 2022 B. Riley Financial | Bryant Riley | Christopher Arnold | Franchise Group | Pathlight Capital | W.S. Badcock Corporation Ian Koplin

B. Riley Financial Establishes Receivables Division

B. Riley Financial established a receivables business to provide debt monetization solutions and portfolio acquisition services for its clients. In connection with the formation of this new division, B. Riley Financial also purchased a portfolio of performing credit receivables from W.S. Badcock.

December 22, 2021 B. Riley Financial | Bryant Riley | Choate Hall & Stewart | Franchise Group | Hudson Cook | W.S. Badcock | Willkie Farr & Gallagher Ian Koplin

SLR Credit Solutions Provides $25MM Term Loan to bebe stores

bebe stores entered into a credit agreement providing for a five-year senior secured term loan of $25 million with an additional drawdown capacity of up to $10 million with SLR Credit Solutions. bebe stores will use proceeds of the financing to retire its existing secured term loan of $22 million.

August 27, 2021 bebe stores | Cheryl Carner | Franchise Group | Manny Mashouf | SLR Credit Solutions Phil Neuffer

Wingspire Funds $60MM Senior Secured Financing for Franchise Group

Wingspire Capital funded a $60 million senior secured working capital facility for Franchise Group, an owner and operator of franchised retail stores.

October 29, 2020 Franchise Group | James Garlick | Wingspire Capital Ellie Delany

Citizens Leads $125MM Credit Facility for Franchise Group

Citizens is the lead left arranger of a $125 million asset-based loan for Virginia Beach, VA-based Franchise Group. This transaction refinances an existing asset-based loan for two of Franchise Group’s businesses.

September 30, 2020 Brian Kahn | Citizens | Franchise Group | Jaime Ward Phil Neuffer

Franchise Group to Provide $25MM DIP to Tuesday Morning

Franchise Group is providing Tuesday Morning with a $25 million debtor-in-possession loan as part of its bankruptcy proceedings.

July 13, 2020 Chapter 11 | Franchise Group | Tuesday Morning Phil Neuffer