ATLANTA – SEPT. 13, 2021 — Wingspire Capital LLC (“Wingspire”) announced today that it has agented a $200 million senior secured credit facility to Maurices Incorporated (“Maurices”), a U.S.-based women’s clothing retail chain with 898 stores in the U.S., Canada and at www.maurices.com. The credit facility consists of a $100 million revolving line of credit and a $100 million term loan.
Founded in 1931, Maurices is positioned as a “hometown retailer,” offering a unique blend of style, service and community. Maurices was acquired in 2019 by OpCapita LLP, a private equity firm specializing in the retail, consumer and leisure industries.
Leveraging its deep roots, Maurices has achieved national scale and has a well-defined omnichannel strategic model with a clear value proposition. Maurices used the loan proceeds to support growth initiatives, refinance its prior senior credit facility, and pay a dividend to its shareholders.
“One of Wingspire’s guiding principles is to elevate the success of the organizations we work with including our borrowers, our referral sources and our lending partners. We are proud to have delivered on that principle as we worked closely with the experienced team at Maurices, the investment bankers at PJ Solomon and the lending team at SLR Credit Solutions to close this credit facility within a challenging timeline,” said John Rosin, President & COO of Wingspire.
Joe Stein, Managing Director of PJ Solomon and head of their Financing Advisory practice, who referred the transaction stated: “Wingspire was first-rate and a true partner in this critical financing from start to finish. They were efficient and constructive at every turn to meet Maurices timeframe and objectives.”