Golub Capital said Wednesday that it provided a $100 million to refinance Boot Barn’s debt capital structure and support the company’s buy of Baskins Acquisition Holdings. Boot Barn, which provides western and work books plus jeans and shirts, is backed by Freeman Spogli & Co.
CHICAGO, June 5, 2013 /PRNewswire/ — Golub Capital announced today that, as Sole Bookrunner and Administrative Agent, it provided a $100 million GOLD debt facility to refinance the existing debt capital structure of Boot Barn, Inc. (“Boot Barn” or the “Company”) and support the Company’s acquisition of Baskins Acquisition Holdings, LLC (“Baskins”). Boot Barn is a portfolio company of Freeman Spogli & Co. (“Freeman Spogli”). GOLD financings are Golub Capital’s One-Loan Debt facilities.
Founded in 1978, Boot Barn offers western and work boots, jeans, shirts, outer wear, protective work wear, accessories, belts and jewelry. For over 30 years, Boot Barn has solely focused on providing the largest selection of quality, top-brand products including Wrangler, Ariat, Justin, Carhartt, Wolverine, Levi’s and Resistol at the best prices. With the closing of the Baskins acquisition, Boot Barn currently operates 148 stores in 23 states extending from California to Florida and from the Dakotas to Texas, as well as on-line shopping via the Company’s website, www.bootbarn.com.
“Boot Barn is the leading national retailer in a growing niche segment, and we are excited to support the Company as it enters its next phase of growth. Freeman Spogli has proven to be a strong partner with deep expertise within the retail sector,” said Troy Oder , Managing Director at Golub Capital. “We are excited to partner with this exceptional senior management team, and to close our third transaction with Freeman Spogli.”
“Golub Capital provided a compelling financing solution and exhibited a deep understanding of Boot Barn, which provided us with confidence they would deliver a sound execution,” said Brad Brutocao , General Partner at Freeman Spogli. “Golub Capital exceeded our high expectations for a financing partner.”
About Golub Capital
With $8 billion of capital under management, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm’s proprietary GOLD, MEGA GOLD and MINI GOLD facilities), senior, second lien, and subordinated debt, preferred stock and co-investment equity. The firm underwrites and syndicates senior and GOLD credit facilities up to $300 million. Golub Capital’s hold sizes range up to $200 million per transaction.
Golub Capital has been a top 3 Traditional Middle Market Bookrunner each year from 2008 through 1Q 2013 for senior secured loans of up to $100 million for leveraged buyouts (according to Thomson Reuters LPC and internal data; based on number of deals). In 2012, Golub Capital was awarded the ACG New York Champion’s Award for “Senior Lender Firm of the Year” and the M&A Advisor award for “Lender Firm of the Year.” Golub Capital is a national firm with principal offices in Chicago and New York. For more information, please visit the firm’s website at www.golubcapital.com.
About Freeman Spogli & Co.
Freeman Spogli & Co. is a private equity firm dedicated exclusively to investing in and partnering with management in consumer-related and distribution companies in the United States. Since its founding in 1983, Freeman Spogli has invested over $3 billion in 48 portfolio companies with aggregate transaction value of over $18 billion, and is currently making investments from FS Equity Partners VI, L.P. Freeman Spogli has offices in Los Angeles and New York. For additional information, visit www.freemanspogli.com.