Carl Marks securities acted as investment banker and chief restructuring advisor to denim retailer Joe’s Jeans in the completion of the merger of the Hudson jeans brand and the Robert Graham fashion brand.
Carl Marks Securities acted as investment banker and chief restructuring advisor to denim retailer Joe’s Jeans on two transactions, involving the sale of the Joe’s brand and substantially all of its operating assets.
Joe’s Jeans completed a sale of certain operating and intellectual property assets related to the Joe’s brand for $80 million. Proceeds were used to repay its term loan with Garrison Loan Agency Service.
Joe’s Jeans will sell Joe’s brand and operating assets for $80 million to two separate buyers. The company also will retire its outstanding indebtedness to CIT upon completion of a merger with RG Parent.
CIT Capital Markets served as lead arranger in a $110 million financing for Joe’s Jeans to finance the acquisition of Hudson Clothing Holdings.
Victory Park Capital funded $12.5 million of a $60 million first lien term loan to Joe’s Jeans. Joe’s also closed on a $50 million revolving credit facility.