Second Avenue, White Oak Agent $16MM Facility for Marolina Outdoor

Second Avenue Capital Partners and White Oak Commercial Finance, an affiliate of White Oak Global Advisors, closed on a $16 million asset-backed revolving credit facility for Marolina Outdoor.

Founded in 2013 and based in Charleston, SC, Marolina Outdoor designs and markets premium authentic performance apparel under the Huk and Nomad brands. The two brands include a full line of technical shirts, jackets, footwear and other accessories that meet the needs of fishing and hunting enthusiasts. The brands are sold through leading sporting goods retailers, independent specialty stores, and directly to consumers online. Marolina is a portfolio company of Goode Partners, a New York-based private equity firm focusing on high-growth potential, consumer-oriented companies.

“We are excited to work with Goode Partners in supporting the tremendous growth of Marolina,” said Chris O’Connor, president of Second Avenue Capital Partners. “Our team at SACP has avid hunters, fishermen and boaters who have worn [Marolina’s] brands for years for their performance and modern aesthetic. With this new credit facility, the company will have additional working capital, enabling the brands to reach an even wider customer base.”

“Marolina has built a seasoned team of design and innovation-focused leaders who know how to build successful brands,” said Robert Grbic, president and CEO of White Oak. “The management team and Goode Partners have a clearly defined plan to continue the growth of the business. Alongside SACP, we were able to provide growth capital to add fuel to this rapidly growing business. We look forward to supporting them as they drive the business toward their goals.”

“Our company was looking for lenders who were able to maximize our availability and keep up with our growth,” said Danny Ricard, chief financial officer of Marolina Outdoor. “SACP and White Oak know consumer products and were able to get right to the heart of our needs. They saw the value in our brands and were willing to lend aggressively on our inventory. This new source of working capital will allow Marolina to continue to bring our premier products to the outdoor world.”

Second Avenue Capital Partners is a finance company which is focused on middle-market companies and specializes in asset-based loans for the broader retail and consumer products industry. Headquartered in Boston, Second Avenue also has offices in New York, Columbus and Los Angeles.

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