ATLANTA — JULY 21, 2020 — Wingspire Capital Holdings is pleased to announce the completion of a $30 million senior secured loan to home furnishings retailer Arhaus, LLC to support the company’s daily operations and continued growth.
Wingspire Capital leadership was already familiar with Arhaus and its executive team, and welcomed the opportunity to support a growing and innovative retailer that has been redefining the home furnishing space for more than three decades.
“We admire Arhaus’s senior leadership team and associates who proactively reached out directly to prospective and current customers to facilitate purchasing decisions, offered private in-store showings where allowed, promoted online shopping and focused on digital marketing during the government-mandated pandemic closures,” said John Rosin, President and COO of Wingspire Capital.
Arhaus is using the new senior secured loan to replace a previous debt instrument and fund day-to-day financial needs.
“Working with a financial partner that takes the time to truly learn and understand our business and our capital needs is an asset for our entire enterprise,” said John Reed, Founder & Chief Executive Officer of Arhaus. “Having a supportive capital partner during this stage of growth and innovation creates enormous value for our employees and our customers.”
ABOUT WINGSPIRE CAPITAL HOLDINGS
Wingspire Capital Holdings focuses on the upper tier of the senior secured asset-based lending (ABL) and ABL stretch market by providing revolving credit lines and term loans ranging from $20 to $200 million. The Atlanta-based company serves mid-sized public and private businesses across numerous industries including manufacturing, distribution, retail, logistics, automotive, energy, consumer products, hospitality, lender finance and business services. Wingspire’s loans are secured by assets such as accounts receivable, inventory, equipment, real estate and intellectual property. Wingspire is a portfolio company of Owl Rock Capital Corporation (NYSE: ORCC). ORCC is externally managed by Owl Rock Capital Advisors LLC, an SEC-registered investment adviser. Owl Rock Capital Advisors LLC, together with its affiliates, is a New York based direct lending platform with approximately $17.3 billion of assets under management as of March 31, 2020. For more information about Wingspire, please visit wingspirecapital.com.
ABOUT ARHAUS, LLC
Arhaus offers globally inspired, heirloom quality furniture and décor for the entire home – both indoors and out. Family-founded in 1986 in Cleveland, OH, Jack and John Reed made a commitment on day one to never source wood from rainforests and to protect the Earth’s resources whenever possible. Now, with 70+ store locations across the United States, a team of interior designers providing complimentary design services, and robust custom-design capabilities, Arhaus has grown to become an industry leader in innovative practices and inspired design. For more information, please visit arhaus.com.