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Marolina Outdoor bags $16 mn credit facility

Aug '19
Pic: Marolina Outdoor
Pic: Marolina Outdoor
Second Avenue Capital Partners, LLC (SACP) and White Oak Commercial Finance, LLC (White Oak), an affiliate of White Oak Global Advisors, have closed on a $16 million asset-backed revolving credit facility for Marolina Outdoor, a Charleston, SC based apparel company. Marolina designs and markets premium 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. Marolina is a portfolio company of Goode Partners, LLC, 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, in a press release. "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."

"Our company was looking for lenders who were able to maximise our availability and keep up with our growth," said Danny Ricard, chief financial officer of Marolina Outdoor. "SACP and White Oak know consumer products and were able to get right to the heart of our needs. They saw the value in our brands and were willing to lend aggressively on our inventory. This new source of working capital will allow Marolina to continue to bring our premier products to the outdoor world."

SACP, a Schottenstein Affiliate, is a finance company specialising in asset-based loans for the broader retail and consumer products industry. White Oak is a global financial products and services company providing credit facilities to middle market companies between $1- $40 million. (PC)

Fibre2Fashion News Desk – India

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