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WFCF Canada is Sole Lender in $60MM Facility for SAIL Outdoors

April 04, 2013, 07:46 AM
Filed Under: Retail

Wells Fargo Capital Finance Corporation Canada has acted as administrative agent and sole lender to a $60 million senior secured credit facility for SAIL Outdoors, Inc. which will use the financing for working capital and general corporate purposes.

Headquartered in Laval, Quebec, SAIL Outdoors, Inc. is a leading outdoor sporting goods retailer offering the largest network of outdoor, camping, hunting and fishing stores in Eastern Canada, with a broad selection of brand name labels and products.

“It is very exciting to work with a dynamic forefront leading retailer,” said Keith Vercauteren, senior managing director and division manager of the Retail Finance division at Wells Fargo Capital Finance. “The senior management team has been incredible to work with and we look forward to supporting SAIL on the growth strategy they are currently executing.”

“It is never easy to put a new credit facility in place, however, Wells Fargo did it with professionalism and a dedicated group of people, making the process so much more efficient and pleasant,” said Daniel Desmarais, CFO of SAIL Outdoors, Inc. “SAIL is very pleased to start a new relationship with Wells Fargo and its team.”

Wells Fargo Capital Finance is the trade name for certain asset-based lending, accounts receivable and purchase order finance services of Wells Fargo & Company and its subsidiaries, and provides traditional asset-based lending, specialized senior and junior secured financing, accounts receivable financing, purchase order financing and channel finance to companies across the United States and internationally.

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