Salus Capital Partners has provided a $10 million senior-secured working capital facility to Bluefly, an online retailer of designer brands. The financing will be used to provide working capital for general corporate purposes.
Salus Capital Partners, LLC announced it has provided a $10 million Senior-Secured Working Capital Facility to Bluefly, Inc., a leading online retailer of designer brands, fashion trends and superior value. The financing will be used to provide working capital for general corporate purposes.
“We believe that Salus is a great compliment to the efficiency of the new model we are building,” said Joseph Park, Chief Executive Officer of Bluefly, Inc. “We look forward to a mutually beneficial working relationship for many years to come, as Salus is well positioned to assist us in our future plans.”
“The e-tailing industry is a channel that possesses many unique attributes and opportunities that Salus embraces with passion and a forward-thinking approach,” said Marc S. Price, Senior Vice President, Loan Originations and Corporate Strategy of Salus Capital. “We are grateful and appreciate the opportunity to partner with Bluefly as they refine their model and execute against their recently announced strategic initiatives. Our baseline competency in retail and consumer brands, coupled with our ability to expertly structure around the unique nature of e-tailing was instrumental in closing another significant transaction for the Salus Capital platform.”
About Salus Capital Partners, LLC
Salus Capital is a provider of senior secured asset-based loans to the small and middle-market across a variety of industries with additional complementary financing throughout the capital structure. Salus Capital’s business strategy also includes providing asset management services to like-minded institutional investors such as community banks, insurance companies and private equity / hedge funds that may lack the infrastructure and dedicated competency within senior secured lending.