Second Avenue Capital Partners Announces Innovative Lending Platform For Middle Market Companies

News provided by

Apr 17, 2018, 09:50 ET

BOSTON, April 17, 2018 /PRNewswire/ -- Second Avenue Capital Partners, LLC, (www.secondavecp.com) announces its formation as a new lending platform specializing in asset-based loans for the broader retail and consumer product industry. Established by SB360 Holdings, Second Avenue is a Schottenstein Affiliate. As such, Second Avenue joins a portfolio consisting of the finest retail and consumer businesses in the United States.

"We're excited about this new venture," said Jay Schottenstein, Chairman of SB360 Holdings. "Our deep roots and substantial holdings in retail, and manufacturing give the Second Avenue lending experts insight into the operations of prospective clients. When you factor in our merchant perspective, we're in a class unlike any other middle market lender."

Industry executive Chris O'Connor will lead Second Avenue Capital Partners. As President, Mr. O'Connor brings more than 25 years of financial service expertise and leads a group of dedicated financial and lending executives. He comes to Second Avenue from Cambridge Trust where he served as Senior Vice President overseeing their asset-based lending vertical. Prior to that, he was a senior executive in several commercial finance and retail lending organizations.

Joining Chris as founding members of Second Avenue are Mark Gallivan, Andrew Prunier, and Michael Sullivan.

Stephen Miller, Co-President of SB360 Holdings said, "This new venture will provide much needed capital to an under-served segment of the retail-consumer marketplace that we understand better than any other lender. We wanted Chris, as he has already demonstrated his leadership by building asset-based lending practices within two financial institutions. We believe he and his team will make Second Avenue the preferred middle market lender within the ABL industry."

Second Avenue Capital Partners will provide financing solutions for companies in all segments of retail, consumer products, and the broader supply chain. Targeting middle market transactions of $5 million to $35 million, the firm's affiliations and solid financial foundation are the basis for syndicating larger transactions.

"We believe our ability to tailor financing solutions is a vital resource for clients as they seek the capital necessary to effectuate strategy and achieve financial objectives," said Mr. O'Connor. "Our mission is to find the uniqueness in every transaction that will allow us to go beyond what the rest of the industry can offer. We're focused on optimizing liquidity in all asset classes."

Clients will turn to Second Avenue for a wide variety of capital funding needs. The firm will develop financing solutions for working capital, to fund emerging growth opportunities, recapitalizations, seasonal and opportunistic financing, turnarounds, mergers & acquisitions, and debtor-in-possession or emergence financing. Unlike other financing providers, Second Avenue does not require positive cash flow or historical earnings as a basis in their lending criteria. Second Avenue is a combination of fresh thinking and forward vision.

The financing structures offered by Second Avenue will focus primarily on Asset Based Loans (revolving credit facilities), FILO Advances, and Term Loans. The firm will lend on a broad spectrum of eligible collateral assets including Inventory, Accounts Receivable, Machinery & Equipment, Real Estate, and select Consumer Brands.

Second Avenue Capital Partners, LLC's headquarters are in their Boston offices at 75 Second Avenue in Needham, Massachusetts. The firm also has offices in Los Angeles, as well as operating from Schottenstein affiliate offices in New York and Columbus. For more information, please visit www.secondavecp.com.

About Second Avenue Capital Partners, LLC

Second Avenue Capital Partners, a Schottenstein Affiliate, is a finance company specializing in asset-based loans for the broader retail and consumer products industry. Focused on serving middle-market companies, we leverage the experience of retail operators, product merchants, and lenders to provide an array of customized, capital solutions for businesses. Our merchant perspective allows us to recognize and unlock value in assets other capital providers often overlook or don't understand. Second Avenue's ability to tailor financing solutions is a vital resource for clients as they seek the capital necessary to effectuate strategy and achieve financial objectives. Visit www.secondavecp.com for more information.

About SB360 Holdings, LLC

SB360 Holdings, a Schottenstein Affiliate, is a leading financial service, business advisory and asset realization company. SB360 Holdings is the parent entity operating: Second Avenue Capital Partners, a lending platform providing financing solutions for mid-market companies; SB360 Capital Partners, one of North America's leading consulting, business evaluation, asset acquisition, and asset disposition firms; SBC Logistics' Asset Recovery Center in Columbus; and, other SB360 business units focused on real estate advisory and commercial real estate investments. In addition, SB360 Holdings makes equity investments in retail, wholesale, and consumer product companies. The principals of SB360 hold extensive commercial interests in national retail and wholesale operations; internationally recognized consumer brands; commercial, residential, and industrial real estate properties; and financial service operations. For more information, please visit www.sb360.com.

SOURCE Second Avenue Capital Partners, LLC