Second Avenue Capital Partners Supports Brixton with New $15 Million Credit Facility

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Feb 01, 2024, 08:15 ET

BOSTON, Feb. 1, 2024 /PRNewswire/ -- Schottenstein affiliate Second Avenue Capital Partners (SACP), a leading provider of asset-based loans and credit facilities, announced today it has closed on a new $15 million senior secured credit facility for Brixton, an omnichannel global lifestyle brand headquartered in Oceanside, California. The credit facility will be instrumental in optimizing Brixton's working capital and fueling its continued growth in the competitive fashion industry.

Founded in 2004 by three Southern California friends, Brixton began as a hat manufacturer. One of their first products, the Hooligan, a vintage-inspired newsboy cap, made a mark on the industry, putting the brand on a trajectory beyond headwear and into apparel and accessories. Brixton's products feature classic silhouettes reinterpreted to meet the needs of modern living. With high-profile collaborations and brand partnerships in the music and entertainment industries, Brixton leverages the diversity of cultures for inspiration. Acquired by Altamont Capital Partners in 2014, Brixton has continued its evolution with a focus on the American lifestyle.

"When we invested in Brixton, we saw a brand that resonated authenticity to a targeted audience of customers, and we've supported the company through its continued growth," said Pete Meyerdirk, Managing Director of Altamont Capital Partners. "This new financing relationship with Second Avenue Capital Partners will enable us to build on the success of Brixton and strengthen their global brand presence. We believe that SACP's expertise and financial support will be instrumental in unlocking the brand's full potential."

Second Avenue Capital Partners has a proven track record of providing tailored financial solutions to companies in the wholesale, retail, and consumer goods sectors, focusing on fostering sustainable growth and success. With the credit facility provided to Brixton, SACP continues to grow its extensive financing portfolio of fashion and lifestyle brands.

"We are thrilled to work with Altamont in support of Brixton, a brand that exemplifies creativity, authenticity, and innovation in the apparel industry," said Mike Sullivan, Managing Director of SACP. "Our $15 million senior secured credit facility is designed to empower Brixton with the financial resources necessary to enhance operational capabilities, capitalize on market opportunities, and propel Brixton to new heights. Altamont's investment in Brixton has demonstrated a passion for the brand, and we look forward to joining them in their collaboration with this exceptional business."

About Second Avenue Capital Partners – Second Avenue Capital Partners, LLC (SACP), a Schottenstein Affiliate, specializes in asset-based loans for the broader retail and consumer products industry. Serving middle-market companies, SACP leverages the experience of retail operators, product merchants, and lenders to deliver customized capital solutions. A unique merchant perspective allows SACP to recognize and unlock value in assets other capital providers often overlook or do not understand. The firm's tailored financial solutions are a vital resource for clients seeking capital to effectuate strategy and achieve financial objectives. Learn more at sacp.com

About Brixton – The story of Brixton began with a hat. Started out of a garage in Oceanside, CA by a group of friends who drew inspiration from the music and culture that surrounded them, Brixton became a way to bring people together through music, culture, and the spirit of adventure. The brand's approach centers around classic silhouettes reinterpreted to meet the needs of modern living. Their products derive inspiration from workwear through several generations - from mariners and aviators to cowboys and laborers and beyond. Simply put, Brixton's apparel and headwear are inspired by the past and built to live in the present. www.brixton.com

SOURCE Second Avenue Capital Partners, LLC