Anna’s refinances with $80 million package
July 29, 2014-- Home Textiles Today,
Boston – Salus Capital Partners, LLC and Downtown Capital Partners, LLC announced $80 million in financing for Anna’s Linens.
The senior-secured credit facility will be used to refinance the debt held by the company’s current lender as well as for general purposes, according to a release from the financing organizations.
“We are happy to partner with the Salus team on our new credit facility, which provides the company with the resources and flexibility to execute our strategic business plan,” said Scott Gladstone, president and ceo of Anna’s Linens. “Our new relationship leverages Salus Capital’s deep understanding of the retail sector, which has been evidenced in the new credit facility we have finalized.”
Andrew Moser, president and ceo of Salus Capital, said the package from his firm and Downtown Capital Partners provides Anna’s with “significant liquidity in a timely fashion.”
Salus Capital provides secured asset-based loans to the middle market. Downtown Capital Partners provides debt and equity solutions to middle-market companies.
Anna’s operates more than 300 stores and employs over 3,200 people.
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