client_transactions

SSG Client Transactions

Title

Ellery Homestyles, LLC
Client Profile

Client Profile

Ellery Homestyles, LLC, ("Ellery" or the "Company")headquartered in New York, NY, is a premier supplier of branded and private label home fashion products to big-box specialty retailers, mid-tier department stores and discounters. The Company designs, produces, markets and distributes window curtains, bedding, seasonal throws, decorative pillows and specialty products. The private label segment of the business traces its roots back to 1924. Ellery has earned a reputation among its customers for offering well-designed, value-added products, competitive pricing, excellent quality and superior supply chain management. Over the years, the owner and management team have built the business into a global entity with in-house overseas sourcing, direct import program capabilities, rigorous quality control and qualified overseas contract manufacturers that are capable of producing high quality products in a timely manner.
Situation

Situation

Despite a weak economic and retail environment, Ellery's business experienced significant growth beginning in mid 2008 and continuing into 2009 due to market penetration and strong customer pull through. This growth, combined with an already leveraged balance sheet, necessitated that the Company refinance its working capital facility with a flexible lender who could support the company's needs today and in the future.
Solution

Solution

Professionals at SSG solicited and obtained working capital proposals from multiple middle market capital providers. Ultimately, with the guidance of SSG and other professionals involved in the transaction, the Company was able to close on a $25.0 million asset-based facility provided by Wells Fargo Business Credit. Upon closing, the company also restructured its mezzanine debt.|
August 2009
$34,000,000
Refinancing and Restructuring
of
The undersigned acted as Investment Banker to
Ellery Homestyles, LLC on this transaction

Call to learn more

Call to learn more

If you would like to learn more about this transaction, or any of our transactions, call us today.

Philadelphia
(610) 940-1094

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New York
(212) 782-3756

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