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Pathlight Capital Agents $10MM Term Loan to Manhattan Beachwear

January 29, 2019, 08:00 AM
Filed Under: Apparel

Pathlight Capital announced it is serving as the ABL Term Loan Agent on a $10 million first and second lien term loan facility to Manhattan Beachwear Inc., a designer and supplier of women’s swimwear serving all levels and channels of distribution in the United States and Europe, including department stores such as Macy’s, Dillard’s, JC Penney and Nordstrom, boutiques, specialty retail, mid-tier, mass and direct-to- consumer.

Pathlight Capital, JPMorgan and Linsalata Capital Partners worked together to provide a combined $50 million in new commitments whose proceeds were used to refinance term debt, extend maturities and to provide flexibility for various company initiatives.

“The Pathlight Capital term facility provides us with a more flexible capital structure to pursue our operating initiatives. Pathlight was both easy to work with and very knowledgeable about our industry. We are looking forward to a long-term partnership with the Pathlight team,” said Lindsay Shumlas, CEO of Manhattan Beachwear, Inc.

“Ms. Shumlas’ has had a tremendous impact on the business; we are very pleased to facilitate the refinancing and support her vision,” said Mark Twomey, Managing Director at Pathlight Capital. “Manhattan Beachwear houses a great collection of proprietary and licensed brands, we’re excited to partner with the market leader in swimwear design and distribution”.

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