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H.I.G. WhiteHorse Provides $38.7MM to Retailer Suitsupply

October 27, 2015, 08:02 AM
Filed Under: Retail

H.I.G. WhiteHorse, a credit affiliate of global investment firm H.I.G. Capital, has arranged a €35 million ($38.7 million) holding company PIK loan financing for Suitsupply, a leading men’s clothing retailer. Founded in 1999 in Amsterdam, Suitsupply operates through its own extensive retail network in Europe, North America and Asia. Suitsupply’s revenues are in excess of €150 million, and have been growing at more than 25% per year.

H.I.G. WhiteHorse has provided a flexible financing structure, supporting the company’s management in buying out their minority shareholder and the business for the next stage of its growth and international expansion.

Haseeb Aziz, Managing Director at H.I.G. WhiteHorse, said: “Suitsupply is a very successful men’s clothing retailer with a unique market position and strong potential for continued growth. We are delighted to provide a customized financing solution to support management to take full ownership of their company. This transaction demonstrates our ability to provide bespoke, flexible and deliverable financing solutions in a timely manner”.

Fokke De Jong, Founder and CEO of Suitsupply, commented: “H.I.G. WhiteHorse made a very thorough analysis of our business and understood our growth drivers and markets. The creative financing solution they put in place will help fuel further growth in the US, Asia and Europe”.

Suitsupply is a leading men’s wear retailer providing high-quality suits, shirts, jackets and other items at affordable prices. Headquartered in Amsterdam, Suitsupply started operating in 1999 and has since expanded its store portfolio outside of the Netherlands to the US, China, UK and other European countries. In addition, the company has franchise stores, store-in-stores and operates a successful webstore.

H.I.G. WhiteHorse is the credit affiliate of H.I.G. Capital focused on providing flexible debt financing solutions to middle market companies in Europe and the United States. Operating a broad investment mandate, H.I.G. WhiteHorse provides unitranche, senior and subordinated debt capital for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations.

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