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Second Avenue Capital Partners Provides $10MM Credit Facility to Northern Reflections

April 06, 2021, 08:00 AM
Filed Under: Retail

Second Avenue Capital Partners closed on a US$10,000,000 senior secured credit facility to Northern Reflections Limited, one of Canada’s largest privately-held apparel retailers of women’s apparel. The credit facility will be used to refinance existing debt and provide the Company with enhanced flexibility to explore future growth opportunities.

Northern Reflections recently completed a corporate and financial restructuring with investment from JAMCO Capital, a leading venture capital firm. JAMCO’s secured capital investment solidifies the go-forward plan that will maintain Northern Reflections’ 135-store footprint.

“We are excited about our partnership with Second Avenue Capital Partners,” said Lalonnie Biggar, President of Northern Reflections. “SACP worked closely with us to provide a new facility that greatly improves our financial flexibility. In conjunction with JAMCO’s investment, this working capital facility ensures we are well-positioned to look beyond the effects of the ongoing pandemic, and to explore growth opportunities in the market.”

Founded in 1985 in Guelph, Ontario, Northern Reflections has become a trusted brand known for fashionable, unique women’s clothing designed to flatter while also offering a comfortable fit. Now one of the largest privately-held apparel retailers in Canada, Northern Reflections offers customers affordable fashion in its 135 stores located coast to coast. Over the past year, the Company has evolved and grown its web-based business to better serve their customers through periods of store disruptions and reach even more customers across the country.

“We’re pleased to work with the extraordinary team at Northern Reflections.” said Chris O’Connor, President of Second Avenue Capital Partners. “As leaders in their retail market segment, Northern Reflections’ plan to enhance their position conveys a strong commitment to a loyal customer base and the 800 plus associates working in stores and related facilities across Canada. SACP has a passion for helping companies overcome challenges, and we believe our financing solution will help Northern Reflections build long-term success.”

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