Shannon Capital refinances Calumet

Shannon Capital Management, a small to middle-market corporate debt manager, has refinanced Calumet Photographic. No financial terms were disclosed. Livingstone served as the financial advisor to Calumet in the transaction. Headquartered in Chicago, Calumet is a specialty retailer of high-end photographic and video equipment.

PRESS RELEASE

December 2013
Livingstone is pleased to announce the successful refinancing of Calumet Photographic Inc. (“Calumet” or the “Company”) by Shannon Capital Management, LLC. Livingstone acted as the exclusive financial advisor to Calumet. Terms of the deal were not disclosed.
Calumet is the leading multi-channel specialty retailer of high-end photographic and video equipment. The Company has been serving professional and advanced amateur photographers since 1939 through its online website and 32 retail locations covering United States, United Kingdom, Netherlands, Belgium and Germany.
The refinancing by Shannon Capital positions the Company for continued growth, allowing for significant improved liquidity and better positioning Calumet to execute its strategic plan.
Livingstone Debt Capital Markets Director Tom Lesch added, “Having a lender with experience in specialty retail was paramount. Shannon’s knowledge of the space enabled us to collaboratively structure a deal that gives Calumet additional liquidity while also allowing for flexibility to execute the Company’s growth plans.”
“We have worked with many companies in the consumer/retail sector over the past several years and the Calumet transaction is the latest example of our team leveraging both our industry experience and special situations expertise to yield the best results for our client and all constituents,” commented Livingstone Partner Joseph Greenwood.
Calumet represents Livingstone’s tenth debt deal in the past twelve months.