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Apparel marketer Levy Group secures $90mn credit facility
19
Aug '14
Headquartered in New York and currently managed by the third generation Levy family, The Levy Group Inc. a manufacturer and distributor of men’s and women’s apparel has secured a $90 million senior secured credit facility.

CIT Commercial Services, a leading provider of commercial lending and leasing services arranged and syndicated the $90 million senior secured credit facility to The Levy Group.

In the deal, CIT Commercial Services served as sole lead arranger, book runner and syndication agent for the transaction. CIT Commercial Services will also serve as administrative agent, collateral agent, documentation agent and a lender in the facility.

“We have a strong relationship and have worked closely with The Levy Group for the past 20 years. This transaction is representative of our knowledge and expertise in the retail and apparel sectors and our unmatched client service in the industry”, said Jon Lucas, President of CIT Commercial Services.

“We are proud to support Levy Group through this financing, which will help the company continue to grow and diversify its business,” he added.

Donald Levy, President of Levy Group said, “Our relationship with CIT over the last two decades has been instrumental to the success of our company. CIT understands our business, is a leader in our industry and is a trusted resource.”

For over 65 years, The Levy Group and its affiliates, have been designing, manufacturing, importing and distributing men’s and women’s outerwear, dresses, suits and active sportswear to major retailers throughout the United States and abroad.

The company sells its merchandise under licensed brands, private label, as well as its own proprietary labels. The company’s proprietary labels include Dawn Levy, Moose Knuckles, Halifax and Braetan.

The company has licensing agreements with major brands including Nautica, Perry Ellis, Laundry, Buffalo, Betsey Johnson and Vera Wang.

Fibre2fashion News Desk - India

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