FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / News / Read News

Print

Pathlight Capital, WFCF Amend and Extend Birks & Mayors Term Loan

August 23, 2013, 09:02 AM
Filed Under: Retail

Pathlight Capital, LLC, a portfolio company of Sycamore Partners, today announced it will serve as the Administrative and Co-Collateral Agent on a $28 million secured term loan facility to Birks & Mayors, Inc., a retailer of fine jewelry headquartered in Montreal, Canada.  The $28 million term loan, which matures August 2018, amends the company's $18 million Term Loan and provides additional liquidity.  The Junior Capital Division of Wells Fargo Capital Finance, part of Wells Fargo & Company, will serve as the Co-Collateral Agent on the facility.  

"We are excited to be Birks & Mayors' new financial partner.  Our creative structure provides additional liquidity to fuel the Company's growth initiatives. We are excited to work with the Birks & Mayors management team in growing our relationship," said Daniel Platt, Chief Executive Officer of Pathlight Capital.

"We are pleased to have entered into this new agreement with Pathlight Capital; the improved credit structure will provide us with greater financial flexibility.  Pathlight's deep knowledge of the retail and jewelry industries allowed them to quickly deliver a comprehensive financial solution," said Michael Rabinovitch, CFO of Birks & Mayors. 

Pathlight Capital is a commercial finance company dedicated to providing creative financing solutions sized between $10MM-300MM. Pathlight specializes in providing secured loans to companies in the consumer and retail sector, but has the flexibility and experience to provide custom solutions in a variety of industries and situations.  Pathlight is a portfolio company of private equity firm Sycamore Partners.

Sycamore Partners is a private equity firm based in New York specializing in consumer and retail investments. The firm has more than $1 billion in capital under management. The founders of Sycamore have a long history of partnering with management teams to improve the operating profitability and strategic value of their businesses.

Wells Fargo Capital Finance is the trade name for certain asset-based lending, accounts receivable and purchase order finance services of Wells Fargo & Company and its subsidiaries, and provides traditional asset-based lending, specialized senior and junior secured financing, accounts receivable financing, purchase order financing and channel finance to companies across the United States and internationally.







Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.