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Salus Capital Partners Provides $42.5MM to HiTouch

October 30, 2013, 07:34 AM
Filed Under: Retail

Salus Capital Partners, LLC, announced it has provided a $42.5 million senior secured credit facility to HiTouch Business Services, LLC. The financing will be used for general corporate purposes.

HiTouch, based in Saddle Brook, NJ, is a full-service business services company with a nationwide network of local distribution centers. Through its six distinct yet fully integrated operating brands, the company serves as a single source for business needs including office products, supplies and equipment, furniture, promotional products, printing and forms, reusable moving crates and total workspace environments. HiTouch also provides space and move planning, office design, facilities management solutions, print management, and document/information destruction and recycling solutions.

“The Salus team understood exactly what we needed from a financing partner after our initial meeting and provided us with the tools and resources to make it happen,” said Howard Brown, chairman of HiTouch Business Services. “HiTouch is a fast-growing company with a bright future and we look forward to a great relationship with Salus.”

“Howard Brown is an industry veteran with extensive experience in the office supply space with a proven ability to grow companies,” said Andrew H. Moser, president of Salus Capital. “We are confident in the management team’s ability to execute on its unique business model and that HiTouch will be able to utilize the credit facility to help capitalize on the existing inefficiencies within the office supply industry through organic growth and strategic acquisitions.”

Salus Capital is a direct originator of secured asset-based loans to the middle market across a variety of industries with additional complementary financing throughout the capital structure. Target transaction sizes range from $5 million to $50 million, with the ability to hold up to $100 million and to syndicate larger transactions. 

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