Salus Capital Partners, LLC (“Salus”), a subsidiary of Harbinger Group Inc. (NYSE: HRG; “HGI”), announced that it has recently surpassed $250 million in new loan commitments since launching in January 2012. Salus has provided credit facilities to sixteen companies throughout North America for purposes of growth / working capital, acquisitions or opportunistic situations, turnarounds, dividend recaps, refinancing, and Debtor-in-Possession (DIP).
The Salus platform primarily serves the middle-market where commitments typically range between $3 to $30 million with the ability to lead and agent larger transactions. To date, representative transactions include: American Apparel, Inc., HMX, LLC (Hartmarx / Hickey Freeman), Frederick’s of Hollywood Group Inc., Hyde Park, Inc., and China Pearl, Inc.
“We are very pleased with the growth demonstrated by the team at Salus Capital during its first year of operations. Salus is uniquely positioned to serve the middle-market, providing much needed financing for businesses in today’s economy,” said Omar Asali, President of HGI.
“Our continued ability to offer relevant and timely capital solutions to the middle-market has been a key driver in our success”, said Andrew H. Moser, President of Salus Capital Partners. “We are passionate about our product offering and keen ability to proactively address the needs and goals of our borrowers as well as, our ability, together with our investors, to think outside of any predetermined credit box”.About Salus Capital Partners, LLC Salus Capital is a provider of senior secured asset-based loans to the small and middle-market across a variety of industries with additional complementary financing throughout the capital structure. Salus Capital’s business strategy also includes providing asset management services to like-minded institutional investors such as community banks, insurance companies and private equity / hedge funds that may lack the infrastructure and dedicated competency within senior secured lending. For additional information about Salus Capital, please visit www.saluscapital.com.