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Second Avenue Capital Partners Closes on Senior Secured Credit Facility for Cos Bar

March 18, 2021, 08:00 AM
Filed Under: Retail

Second Avenue Capital Partners closed on a senior secured credit facility to Cos Bar, a leading luxury specialty cosmetics retailer. The credit facility will be used to support new growth opportunities and provide additional working capital.

"Cos Bar has developed and nurtured a loyal following that has positioned the Company for continued success,” said Chris O'Connor, President of SACP. "It is exciting to partner with the team at Cos Bar as they continue to build on their achievements. Their vision for a plan to reach new consumers and expand on their approach to the luxury cosmetics and skincare buying experience is one that SACP recognized the value of and wanted to help facilitate."

Since its first store and founding by industry pioneer Lily Garfield in Aspen in 1976, Cos Bar has gained notoriety as a luxury multi-brand beauty retailer. Designed for a sophisticated and discerning audience, Cos Bar successfully carved out a unique and engaging sales experience focused on the needs of the customer. An omnichannel retailer with a carefully curated array of the world's best beauty brands, Cos Bar plans to expand its compelling retail style to a much greater audience.

In 2015, Cos Bar received support from Tengram Capital Partners, a private equity firm that focuses exclusively on consumer and retail companies that own exceptional, highly recognizable brands.

Veeral Sheth, CFO of Cos Bar, said, "Second Avenue Capital Partners has been a pleasure to work with throughout this process. They were mindful of our brand's integrity and respectful to all our team members and their unique requests for a customized financing solution. As we explore new avenues for growth, the financing, and support from SACP will allow us to do what we do best, delivering the world's best beauty buying experience."

Grace Bernier of Tengram concurred. "We've worked with Second Avenue Capital Partners in the past, and we felt that they were the best fit for some of the unique requirements of Cos Bar. SACP's focus and experience in the consumer and retail categories delivers added value and flexibility to the Company and their vision for the future."

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