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Encina Business Credit Provides $15MM Revolver to Running Specialty Group

May 30, 2018, 07:17 AM
Filed Under: Retail

Encina Business Credit, LLC (EBC) announced that it has provided a $15 million asset-based revolving credit facility to Running Specialty Group LLC (also known as JackRabbit), which is a Denver-based, omni-channel retailer of high-performance athletic footwear, apparel and accessories.

JackRabbit is owned by an affiliate of CriticalPoint Capital, LLC, a private investment firm. The credit facility consists of a revolver secured by accounts receivable and inventory, the proceeds of which have been used to refinance the company’s existing senior secured asset-based credit facility, to facilitate the company’s recent acquisition of Clever Training – an e-commerce provider of fitness gear and technology – and to provide working capital.

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