FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Press Releases / Read Press Release

Print

Prospect Capital Purchases $70MM in First Lien Notes Issued by Town & Country

January 30, 2018, 07:00 AM
Filed Under: Industry News


Prospect Capital Corporation announced that Prospect has purchased $70 million of first lien senior secured floating rate notes issued to support the acquisition of Town & Country Holdings, Inc. by affiliates of H.I.G. Capital, LLC (H.I.G.).

Founded in 1954 and headquartered in New York, Town & Country is a third-generation family-operated business. Town & Country designs, sources, manufactures, and markets table linens, kitchen textiles, rugs, shower curtains, travel pillows, and other innovative products. The company is a market leading supplier of national brands and private label programs to major online and traditional retailers across the globe.

“We are pleased to have the opportunity to work with Prospect on another transaction,” said Todd Ofenloch, Managing Director of H.I.G. “We know from past experience that Prospect has the wherewithal to move quickly and assist in getting deals completed, but even more important considerations to us were the capacity, efficiency and creativity Prospect has consistently demonstrated when it comes to the subsequent financing needs of our portfolio companies. Given our intent to grow Town & Country through a combination of internal growth initiatives as well as acquisitions, Prospect is the right debt financing source for the company.”

“We look forward to working with H.I.G. and Town & Country’s management team as the company continues to grow and widen its product offerings,” said Jason Wilson, Managing Director of Prospect Capital Management L.P. “Town & Country’s long history, design skills, sourcing capabilities, licensing partnerships, and relationships with leading retailers are attractive credit attributes for Prospect.”







Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.