Salus Capital Partners has provided a $12.75 million senior-secured working capital facility to Xenith. Xenith is a manufacturer and wholesaler of football helmets and sporting equipment. The money will be used for working capital.
Salus Capital Partners, LLC today announced it has provided a $12.75 million Senior-Secured Working Capital Facility to Xenith, LLC, a privately held manufacturer and wholesaler of football helmets and sporting equipment. The financing will be used to provide working capital for general corporate purposes.
Based in Lowell, Massachusetts, Xenith was founded to advance safety, activity, and health by providing both innovation and education. Xenith’s renowned Adaptive Head Protection® is a system of integrated technologies designed to reduce the sudden movement of the head during impact. Xenith helmets have been worn by thousands of athletes from the youth level to NFL. The Company’s products are offered through several distribution channels, including over a nationwide network of team dealers that sell to schools and universities, and through major sporting goods retailers.
“We are thrilled to partner with Salus and look forward to utilizing this new credit facility to further support Xenith’s rapid expansion and fill the incredible demand in the market for safer, more reliable helmets,” said Chuck Huggins, Chief Financial Officer at Xenith. “We are dedicated to providing products that are engineered to reduce injuries and protect athletes, especially as the regular occurrence and devastating side-effects of concussions are increasingly recognized by the public. We look forward to our continued work with the Salus team, and see this transaction as a natural next step in helping us to achieve our goals.”
“We are pleased to provide Xenith with a capital solution that fits their high-growth plans and which will enable them to further provide safe, innovative sports equipment to athletes nationwide,” said Andrew H. Moser, President of Salus Capital. “Xenith’s position as a market leader and innovator in the sporting goods industry aligns nicely with our same goals of leadership and innovation at Salus; we are proud to be a part of their important mission to advance safety for athletes.”