Maurices, a women’s fashion retailer, completed a refinancing transaction. The transaction expands Maurices’ longstanding relationship with lending partners Wingspire Capital and Tiger Finance and welcomes Second Avenue Capital Partners to the financing relationship. This transaction strengthens the company’s capital structure through extended maturities and lower borrowing costs. The refinancing is expected to enhance financial flexibility while supporting the company’s long-term strategic objectives.
“This refinancing represents an important milestone for Maurices attributable to the success of our business turnaround and strong team. It further reflects the confidence our lending partners have in our business, our performance and our future,” Brent Hickman, chief operating officer of Maurices, said. “As we approach our 96th year of serving customers, this strengthened capital structure provides greater flexibility to invest in the business, continue executing our growth strategy and serve our customers for years to come. We are grateful for the continued partnership and support of Wingspire, Tiger and Second Avenue, and we look forward to building on these relationships in the future.”
David Wisen, founder and CEO of Wingspire Capital, added, “Wingspire has been proud to support maurices for a number of years, and we’re thrilled to extend that relationship through this refinancing. It reflects our continued confidence in the business and its leadership team, and we look forward to supporting the company’s continued growth alongside Tiger and Second Avenue.”
Andy Babcock, senior managing director of Tiger Finance, said, “Tiger is pleased to continue its partnership with Maurices and to welcome Second Avenue Capital Partners to the upsized FILO term loan facility. Together with Wingspire, we are excited to provide the capital and flexibility that will allow the Company to execute on its long-term strategy.”
Maurices was advised by Houlihan Lokey’s capital solutions group, which served as exclusive placement agent and assisted the company in arranging, structuring and negotiating the financing.
Orbin & Company also served as an advisor to Maurices.
