NXT Capital has provided additional financing to support the add-on acquisition by Regent Holding Company of Illume, a designer, manufacturer, and marketer of branded and private label home fragrances. Regent has been a portfolio company of Freeman Spogli since October 2015. NXT provided the original senior secured credit facility to back Freeman Spogli’s acquisition of the company.
Illume’s products include scented candles, diffusers, room and linen sprays, and bath & body products such as lotions, perfume and washes. The company is based south of Minneapolis in Bloomington, MN (www.illumecandles.com).
Regent is a designer, marketer and supplier of home décor and accent products. Its products are sold through 12,000 independent and chain retailers in the US and over 3,500 customers in Europe. The company products – totaling more than 8,000 SKUs across more than 30 home décor product categories – are sold primarily under two trade brands, Creative Co-Op in the US and Bloomingville in Europe. Products include jewelry, candle holders, clocks, coasters, decorative trays & bowls, frames, figurines & statues, and other home decor items. The company is led by its CEO Eugene Wang. Regent was founded in 2001 and is headquartered in Memphis (www.creativecoop.com).
“We are excited to work with NXT Capital again and appreciate their continued support of Regent,” said Brad Brutocao, a Partner at Freeman Spogli. “NXT provided a flexible financing solution to the company through this amendment while ensuring the certainty of debt financing to close this transaction.”
NXT Capital provides structured financing of up to $150 million with a hold size up to $50 million to middle-market companies through its corporate finance and real estate finance groups. The firm is based in Chicago with offices in Atlanta, Dallas, Los Angeles, Nashville, New York, Phoenix, San Francisco (www.nxtcapital.com).
Freeman Spogli invests in middle market consumer and distribution companies. Since its founding in 1983, the firm has invested over $3 billion in 53 portfolio companies with an aggregate transaction value of $20 billion. Freeman Spogli has offices in Los Angeles and New York (www.freemanspogli.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-20-16