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


Prospect Capital Provides $215MM to Pacific World Corporation

September 29, 2014, 07:54 AM
Filed Under: Consumer Products

Prospect Capital Corporation recently provided $215 million of first lien senior secured credit facilities to support the recapitalization of Pacific World Corporation (“Pacific World”), a portfolio company of Levine Leichtman Capital Partners (“LLCP”).

Founded in 1973 and headquartered in Aliso Viejo, California, Pacific World is a leading innovator and supplier of proprietary nail and beauty care products to the food, drug, mass, and value retail channels worldwide. Pacific World markets over 5,000 products in more than 86,000 retail locations worldwide with leading brands that include Nailene, Trim, SensatioNail, Fuse, Fing’rs, and Woodward’s Myocide. Pacific World also acts as the exclusive sales and marketing distributor of Bio-Oil in the United States and holds a licensing agreement to market Revlon-branded artificial nails and false eyelashes.

“We have enjoyed working with Prospect on our first transaction together,” said Kimberly Pollack, a Partner at LLCP. “Prospect’s responsiveness and ability to provide a large one-stop financing solution were integral to the success of this transaction, and we look forward to growing our relationship with the Prospect team.”

“We are excited to provide a one-stop financing solution to Pacific World,” said Richard Carratu, a Managing Director of Prospect Capital Management LLC. “We welcome the opportunity to support LLCP and the Pacific World management team as they continue to grow the business.”

The $215 million financing provided by Prospect marks the eleventh time in the last two years that Prospect has invested over $100 million in a single transaction.

Currently with over $7 billion of capital under management, Prospect has closed over $2 billion of new originations so far in calendar year 2014.

Comments From Our Members

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