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Salus Capital Expands Facility for HiTouch to $52.5MM

February 11, 2015, 07:31 AM
Filed Under: Business Services

Salus Capital Partners, LLC has increased its senior secured credit facility for HiTouch Business Services, LLC (“HiTouch”) to $52.5 million as of December 2014.  HiTouch will use the financing for working and growth capital.

HiTouch, based in Saddle Brook, NJ, is a full-service business services company with a nationwide network of local distribution centers. Through its nine 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 Credit Facility provides HiTouch with significant financial resources and the flexibility needed to invest in our business to drive growth,” said Howard Brown, Chairman and CEO of HiTouch Business Services.  “Salus’ unique approach to lending has met all of our financial needs and capital requirements allowing our organization to forge an innovative path in the office supply space by providing complete and differentiated business solutions.” 

“It is a privilege to continue our working relationship with an entrepreneur such as Howard and his executive team,” said Andrew H. Moser, Co-Founder, President and CEO of Salus Capital. “The expanded Credit Facility will enable HiTouch to further leverage its business model and gain additional market share.  We remain focused on helping to propel our borrowers forward and to help them exceed their goals.”

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 to $50 million, with the ability to hold up to $100 million and to syndicate larger transactions.

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