Overview

Daniel’s Jewelers (“Daniel’s” or the “Company”) is a tech-enabled jewelry retailer serving a diverse customer base across the continental U.S. through a footprint of more than 100 retail locations and growing e-commerce platform. Daniel’s, as advised by ECS Debt Advisory, is a portfolio company of Palladium Equity Partners (“Palladium” or the “Sponsor”), is a private equity firm with over $3.5 billion of assets under management. The firm invests in the middle market, focusing on companies in the U.S. Hispanic market, founder and family-owned businesses, and those with accretive M&A opportunities.

Situation

Daniel’s engaged ECS Debt Advisory to assist with the refinancing of its bank debt with an asset-based facility that provided greater liquidity and flexibility.

Solution

SLR Credit Solutions acted as Agent on a Senior Credit Facility comprised of a term loan and revolver. The financing has a first lien on all assets and was supported by the Company’s consumer finance receivables portfolio and inventory. Proceeds were utilized to refinance existing debt and provide greater flexibility and liquidity.