Essex Capital Closes $833,000 Recapitalization
Essex Capital Group, Inc. (“Essex”), announced today that the firm recently arranged $833,000 in new financing for Flagship Brands, LLC d/b/a Feetures!, a North Carolina-based designer and distributor of performance athletic socks.
The funding was provided in the form of an asset-based working capital line of credit from a private specialty finance company as well as a subordinated debt piece. Deal proceeds were used by the company to pay off existing debt and provide operating capital.
Flagship CEO, Hugh Gaither, stated, “Essex was a great partner in this refinancing transaction. They found exactly the right lender for our current needs and then completed the transaction in a very timely and efficient manner. This positions our company for continued growth.”
Essex Capital acted as Flagship Brands’ exclusive advisor in this transaction.
About Essex Capital Group
Essex Capital Group, Inc. is a Tampa, Florida-based corporate finance advisory firm serving small and middle market privately-held companies located throughout the United States. With extensive capital markets experience, Essex provides creative solutions to businesses in need of financial restructuring. Typical advisory services include balance sheet recapitalizations with senior and subordinated debt, as well as introductions to institutional private equity investors. Since inception in 2003, Essex has successfully raised over $325 million in 60+ financing transactions.
- Contact Information
- Robert Swain
- Essex Capital Group, Inc.
- (1) 813-837-3500
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