SLR CREDIT SOLUTIONS AGENTS SENIOR SECURED CREDIT FACILITY to finance the acquisition of portfolio of stores in New York and New Jersey from Rent-A-Center by Directional Capital
October 31, 2024
BOSTON, Massachusetts – SLR Credit Solutions (“SLR CS”) announced the closing of a Senior Credit Facility for Purple Apple (“Purple Apple” or the “Company”), a newly formed entity by Directional Capital to acquire a collection of well-known Rent-to-Own retail locations across New York and New Jersey.
“SLR CS understands the complexities of our business and lending into the Rent-to-Own sector.” said Dwayne Boothe, Managing Partner of Directional Capital. “It was a pleasure working with the firm, and we look forward to our future relationship.”
Joe Wells, Managing Director of SLR CS, added, “We are excited about the opportunity to work with the team at Directional Capital with the initial buyout of the Company and help finance future growth.”
About SLR Credit Solutions
SLR Credit Solutions (f/k/a Crystal Financial), a portfolio company of SLR Capital Partners, is a leading provider of direct private credit focused on originating, underwriting, and managing both asset-based and cash flow financings from $20 – $150 million to middle-market companies. Since its inception in 2006, its team of experienced, responsive professionals have provided more than $4 billion in secured debt commitments across a wide range of industries. For more information, please visit www.slrcreditsolutions.com.
About Purple Apple
Purple Apple is a new entity formed to acquire a collection of Rent-to-Own retail stores across New York and New Jersey. These franchised locations offer furniture, electronics, appliances, and computers with flexible lease agreements and no long-term commitments.
About Directional Capital
Directional Capital is a private equity firm, organized in Delaware, with experience investing in middle-market companies founded by entrepreneurs seeking liquidity events in specialized industries. Their focus is on making equity investments in market-leading businesses in partnership with proven managers where Directional Capital can be more than just a financial investor.
SLR CREDIT SOLUTIONS CONTACT
Joe Wells, Managing Director of Originations
312-339-9355
jwells@slrcreditsolutions.com
DIRECTIONAL CAPITAL CONTACT
Dwayne Boothe, Managing Partner
dwayne@directional.capital