Pathlight Capital is serving as the Documentation Agent on a $425,000,000 SPV ABL facility and $120,000,000 retail inventory ABL facility for The Aaron’s Company, Inc., an omni channel provider of lease-to-own (“LTO”) and retail purchase solutions of furniture, consumer electronics, and home appliances across its brands: Aaron’s, BrandsMart U.S.A, BrandsMart Leasing, and Woodhaven.

Proceeds from the facilities were used to finance the take private of the Company by IQVentures Holdings and to fund ongoing working capital needs of the business.
“It was a pleasure working with Pathlight on this transaction,” said Cory Miller, President of IQVentures. “They were a thoughtful partner throughout the process and spoke confidently to provide debt in different parts of the capital structure.”

Kenny Smith, Managing Director at Pathlight said, “The Pathlight team is thrilled to help support IQVentures in this transaction. Cory and his team have a strong vision for the continued legacy of Aaron’s. Further, we are appreciative of the opportunity to work with Second Avenue Capital Partners, as Agent of the Retail ABL facility, a group we have known and respected for many years.”

“This transaction takes place at the intersection of two industries Pathlight knows very well, retail and specialty finance,” added Tyler Harrington, Managing Director at Pathlight.