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Golub Capital Supports Merger of Downtown Locker Room and Sneaker Villa

August 18, 2017, 08:00 AM
Filed Under: Retail

Golub Capital recently announced that as Administrative Agent, Sole Bookrunner and Sole Lead Arranger, it provided a $200 million senior credit facility to support the merger of Downtown Locker Room (DTLR), a portfolio company of Bruckmann, Rosser, Sherrill & Company (BRS) and Sneaker Villa, a portfolio company of Goode Partners.

The combination of DTLR and Sneaker Villa will create one of the largest lifestyle retailers of street-inspired footwear, apparel and accessories in the industry, with over 230 stores in 18 states.

BRS has owned DTLR since 2005, at which time Golub Capital began its 12-year relationship with DTLR.

"We have been partners with BRS and DTLR for over a decade, and lenders to both DTLR and Sneaker Villa," said Greg Cashman, Senior Managing Director at Golub Capital. "BRS is an experienced multi-unit retail investor and we are proud to facilitate the merger of these two companies, and look forward to continuing our support of the company in the future."

"Golub Capital's specialty retail sector knowledge and overall flexibility were vital for us during this transaction," said, Rashad Rahman, Managing Director at BRS. "We appreciate working with a professional team that consistently ensures a smooth and efficient process and deeply values our investment philosophy."

"We appreciate Golub's long term support which has helped us to thrive in a challenging retail environment," said Glenn Gaynor, CEO of DTLR. "Their confidence in our ability to execute on this merger is what enabled the transaction to come together."

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