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Salus Capital Closes $21MM Facility for Love Culture Inc.

September 05, 2013, 07:44 AM
Filed Under: Retail

Salus Capital Partners, LLC announced it has provided a $21 million senior secured credit facility to Love Culture, Inc. Love Culture is a lifestyle brand and shopping destination for edgy, fashion-forward young women. The financing will be used to refinance existing indebtedness and to provide working capital for general corporate purposes.

“Love Culture is pleased to be working with Salus Capital Partners; their creative, professional, and fast-paced approach is a perfect match for our business,” said Katrina Basic, chief financial officer of Love Culture. “Their knowledge of the retail industry is tremendously valuable to a rapidly growing retailer like Love Culture.”

“Hip, trendy, stylish and always fun – the hallmark of the Love Culture brand aligns perfectly with the relevant, forward-thinking, creative and always nimble capital solutions created by Salus Capital,” said Marc S. Price, senior vice president, Loan Originations and Corporate Strategy of Salus Capital. “We are pleased to partner with the management team and look forward to a mutually-rewarding relationship as the Company continues to execute its prudent growth initiatives.”

Salus Capital provides secured asset-based loans to the middle market across a variety of industries with additional complementary financing throughout the capital structure. The firm is a direct originator of senior secured asset-based loans across North America and abroad. Salus Capital targets transaction size ranges from $5 to $50 million, with the ability to hold up to $100 million and to syndicate larger transactions.

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