ORIX Leveraged Finance announced today the closing of a senior debt facility to J.McLaughlin. Proceeds were used to finance the previously announced acquisition of J.McLaughlin by private equity sponsors JH Partners, the Highland Consumer Fund, and Palladin Capital Group as well as provide liquidity for the Company’s future growth. ORIX Leveraged Finance was the sole financing party to the transaction and is an equity co-investor.
Headquartered in Brooklyn, N.Y., J.McLaughlin is an American brand that represents a sought-after preppy lifestyle. J.McLaughlin sells only its branded, proprietary designs and has a unique aesthetic which combines traditional styling and impeccable craftsmanship with flair and an element of surprise. The company currently has 52 stores in 18 states across the eastern half of the United States.
The investment underscores ORIX Leveraged Finance’s commitment to provide acquisition and growth capital to well-managed privately held companies that offer a compelling product or service, and possess franchise value.
Chris Smith, president and CEO of ORIX Corporate Capital, said, "We are pleased to provide acquisition financing support to a very strong syndicate of highly experienced consumer brand and retail-focused investors. We look forward to supporting J.McLaughlin’s founders and management team, and the ownership group, through the next growth phase.”Jeff Hansen, partner at JH Partners, stated, “We’re excited to have ORIX Leveraged Finance as an investment partner. They moved quickly to close the transaction and provided a flexible financing structure that will support J.McLaughlin’s future growth.” Tom Stemberg, a managing general partner of the Highland Consumer Fund, noted, “ORIX Leveraged Finance delivered an attractive financing package that demonstrated a strong understanding of our vision for the business.” Mark Schwartz, CEO of Palladin Capital Group, added, “ORIX Leveraged Finance is a great partner that focuses on meeting the needs of operating companies and equity sponsors; it is always a pleasure working with them.”