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GemCap Provides $7MM Working Capital Line to Solstice Sunglasses

December 19, 2022, 07:28 AM
Filed Under: Consumer Products

GemCap Solutions provided a $7 million line of credit to Solstice Sunglasses (“Solstice”), the second largest sunglass retailer in the United States.

Michael Rosenberg, CEO of Solstice, said, “We are grateful to be working with the GemCap team to address Solstice’s financing needs. Having an experienced and supportive partner for working capital provides a great benefit to our team, critical suppliers, and other stakeholders.”

“We are excited to be a part of the Solstice Sunglasses success story,” said David Ellis, Co-President of GemCap. “No two borrowers are alike but working with the Solstice team, we were able to provide a financial solution to meet their needs. We knew that Solstice would be a great company to partner with, given its reputation and longevity in the marketplace. It’s really a win-win for both parties.”

The transaction was coordinated by Jacen Dinoff of KCP Advisory Group, who stated “GemCap is an ideal solution provider with a team that carries experience as operators and lenders. They really understand their borrowers.”

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