Great American Capital Partners, a wholly owned subsidiary of B. Riley Financial, Inc. has entered into an agreement with EVINE Live Inc. to provide a $17 million senior secured term loan. Proceeds from the loan will be used for general corporate purposes and to support the continued growth of EVINE Live.
Founded in 1990, EVINE Live is a digital commerce company that sells brand name and private label products directly to consumers via television, online, mobile, and social media platforms. The Eden Prairie, MN-based company markets a diverse merchandising mix in the categories of jewelry, watches, fashion, beauty, home goods, consumer electronics, kitchen and food essentials.
"We worked closely with the EVINE Live team to provide a financing solution that meets their current and future capital needs," said Robert Louzan, managing director at GACP. "Because of our deep retail and valuation expertise, we were able to demonstrate to EVINE Live our ability to help middle-market companies succeed with the advantage of our client-focused mindset and tailored financing solutions."
Bob Rosenblatt, Chairman and Interim CEO of EVINE Live, added: "Great American showed remarkable attention to and understanding of our unique capital needs, responding with a solution that enables us to more effectively operate in a dynamic retail environment. We look forward to building on this new and supportive partnership with GACP."
EVINE Live reaches approximately 88 million cable and satellite television homes 24 hours a day with entertaining content that invites its community of customers to shop, share and smile in a comprehensive digital shopping experience.
Great American Capital Partners (GACP) is dedicated to providing opportunistic and responsive capital to the underserved middle market. GACP originates and underwrites senior secured loans to companies across a wide array of industries by leveraging deep in-house asset valuation expertise to deliver capital solutions that traditional lenders are typically unable to provide. GACP's customized solutions support a range of growth, refinancing, recapitalization and restructuring needs.