Salus Capital Passes $250 Million in Loans Since Launch
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Salus Capital Passes $250 Million in Loans Since Launch

Salus Capital Partners, a subsidiary of Harbinger Group, has surpassed $250 million in new loan commitments since launching in January 2012. Salus has provided credit facilities to sixteen companies throughout North America for purposes of growth/working capital, acquisitions or opportunistic situations, turnarounds, dividend recaps, refinancing, and debtor-in-possession.

“Our continued ability to offer relevant and timely capital solutions to the middle-market has been a key driver in our success”, said Andrew Moser, President of Salus Capital Partners. “We are passionate about our product offering and keen ability to proactively address the needs and goals of our borrowers as well as our ability, together with our investors, to think outside of any predetermined credit box”.

Salus Capital is a provider of senior secured asset-based loans to the small and middle-market across a variety of industries with additional complementary financing throughout the capital structure. Commitments range from $3 million to $30 million with the ability to lead and agent larger transactions. Industries of interest include manufacturing; jewelry; specialty retail; niche distribution; services industries; wholesale apparel and garment; commercial supply chain; internet; direct marketing & catalog; energy; transportation; and consumer receivables. Representative transactions for Salus include a $20 million senior secured facility for American Apparel; a $24 million senior secured facility to Frederick’s of Hollywood Group; a $60 million senior secured facility to HMX (Hartmarx/Hickey Freeman); and a $30 million senior secured facility to China Pearl. Salus Capital is based in Needham, MA (www.saluscapital.com).

“We are very pleased with the growth demonstrated by the team at Salus Capital during its first year of operations. Salus is uniquely positioned to serve the middle-market, providing much needed financing for businesses in today’s economy,” said Omar Asali, President of Harbinger Group.

© 2012 PEPD • Private Equity’s Leading News Magazine • 10-25-12

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