Siena Lending Group LLC announced the completion of a $3 million senior secured revolving credit facility for Carol’s Daughter Holdings, LLC, a developer and distributor of hair and beauty products. The facility will be used to support the company’s working capital and expansion of their distribution model.
Carol’s Daughter is headquartered in New York City and is majority owned by private equity fund Pegasus Capital Advisors. David Grende, President and CEO of Siena Lending Group, said "We are pleased to have the opportunity to help Carol’s Daughter expand its distribution channels and look forward to its future growth and success.” Carol’s Daughter was started 20 years ago in a Brooklyn kitchen by Lisa Price. Today, her products are on the shelves of major retailers across North America. Company CFO, John Elmer, said “Siena understood and reacted to our needs by delivering a very flexible solution which has allowed us to greatly expand our distribution.”
Pegasus Capital Advisors, L.P. is a private equity fund manager with over $2 billion in assets.