LONDON–(BUSINESS WIRE)–H.I.G. WhiteHorse, a credit affiliate of global investment firm H.I.G.
Capital, has arranged a €35 million holding company PIK loan financing
for Suitsupply, a leading men’s clothing retailer. Founded in 1999 in
Amsterdam, Suitsupply operates through its own extensive retail network
in Europe, North America and Asia. Suitsupply’s revenues are in excess
of €150 million, and have been growing at more than 25% per year.
H.I.G. WhiteHorse has provided a flexible financing structure,
supporting the company’s management in buying out their minority
shareholder and the business for the next stage of its growth and
Haseeb Aziz, Managing Director at H.I.G. WhiteHorse, said:
“Suitsupply is a very successful men’s clothing retailer with a unique
market position and strong potential for continued growth. We are
delighted to provide a customized financing solution to support
management to take full ownership of their company. This transaction
demonstrates our ability to provide bespoke, flexible and deliverable
financing solutions in a timely manner”.
Fokke De Jong, Founder and CEO of Suitsupply, commented: “H.I.G.
WhiteHorse made a very thorough analysis of our business and understood
our growth drivers and markets. The creative financing solution they put
in place will help fuel further growth in the US, Asia and Europe”.
Suitsupply is a leading men’s wear retailer providing high-quality
suits, shirts, jackets and other items at affordable prices.
Headquartered in Amsterdam, Suitsupply started operating in 1999 and has
since expanded its store portfolio outside of the Netherlands to the US,
China, UK and other European countries. In addition, the company has
franchise stores, store-in-stores and operates a successful webstore.
About H.I.G. WhiteHorse
H.I.G. WhiteHorse is the credit affiliate of H.I.G. Capital focused on
providing flexible debt financing solutions to middle market companies
in Europe and the United States. Operating a broad investment mandate,
H.I.G. WhiteHorse provides unitranche, senior and subordinated debt
capital for refinancings, growth capital, acquisitions, buyouts, and
balance sheet recapitalizations. Credit facilities typically range from
€10 million to €75 million for companies with revenues of €40 million or
more. For more information, please refer to the WhiteHorse website at: www.higwhitehorse.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets
investment firm with €17 billion of equity capital under management.*
Based in Miami, and with offices in New York, Boston, Chicago, Dallas,
San Francisco, and Atlanta in the U.S., as well as international
affiliate offices in London, Hamburg, Madrid, Milan, Paris and Rio de
Janeiro, H.I.G. specializes in providing both debt and equity capital to
small and mid-sized companies, utilizing a flexible and operationally
focused/ value-added approach:
H.I.G.’s equity funds invest in management buyouts, recapitalizations
and corporate carve-outs of both profitable as well as underperforming
manufacturing and service businesses.
H.I.G.’s debt funds invest in senior, unitranche and junior debt
financing to companies across the size spectrum, both on a primary
(direct origination) basis, as well as in the secondary markets.
H.I.G. is also a leading CLO manager, through its WhiteHorse family of
vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
Other H.I.G. funds invest in various real assets, including real
estate and shipping.
Since its founding in 1993, H.I.G. has invested in and managed more than
200 companies worldwide. The firm’s current portfolio includes more than
100 companies with combined sales in excess of €22 billion. For more
information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments to funds managed by H.I.G. Capital
and its affiliates.