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Stonegate Capital Closes $4MM Debt Investment in Apparel Firm Wear Pact

September 10, 2020, 08:20 AM
Filed Under: Apparel

Stonegate Capital announced it has made a $4,000,000 senior debt investment in Wear Pact, LLC.  Headquartered in Boulder, CO, Pact is a rapidly-growing apparel company with a focus on sustainability and ethical sourcing/production methods. Pact’s product lines include everyday essentials for men, women, children as well as bedding and towels.

"I've known Stonegate for the last 3-4 years, and I'm excited that we were able to work together on this deal,” stated Drew Cook, Pact’s CFO. “Stonegate was the only lender in the market who was able to structure a credit facility that would meet the unique needs of our business. Despite the challenging circumstances surrounding the COVID pandemic, Stonegate was flexible and creative in helping get the deal done during these unprecedented times. Our partnership with Stonegate will unlock a lot of value for Pact over the next several years."

The Company will utilize the senior debt facility to support ongoing operational initiatives and to foster additional growth of the brand.

“We are elated about our new partnership with Pact, as this investment is another great addition to our portfolio and evidence of our continued commitment to the high-growth consumer product market despite the turbulent economic conditions,” said Jay Fabian, Managing Director at Stonegate Capital. “We look forward to continue to be a collaborative and meaningful partner in Pact’s already-impressive growth.” This investment is one of two that closed in the first week of July, kicking off a busy third quarter in which Stonegate has been eager to deploy strategic senior capital via each of its three lending platforms.

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