Revolving credit facility comes in response to robust online and brick-and-mortar sales by the outdoor and winterwear brand
NEW YORK, Jan. 5, 2023 /PRNewswire/ — Tiger Finance and Merchant Financial Group are partnering to provide $38 million in growth capital to Alpha 6 Distributions, creator of the Arctix winter apparel brand.
As the primary lender to Alpha 6, Merchant Financial Group tapped Tiger Finance to provide an additional $15.2 million in growth capital for the manufacturer, based in Locust Valley, NY. Tiger’s contribution brings the total credit facility to $38 million.
Tiger Group and Merchant Financial Group are long-term strategic partners, having collaborated on multiple retail and wholesale asset advisory projects, valuations and financings.
“At Merchant Financial, we’re committed to providing forward-thinking financial services that propel business growth,” said Doreen Driscoll, a senior vice president and team leader at the privately-held firm, with offices in New York, Los Angeles and Boca Raton, Fl. “Tiger Finance shares that commitment and has an impressive track record of working with borrowers in the omni-channel and ecommerce space.”
High-quality, affordably-priced ski and other outdoor apparel by Arctix continues to sell well via channels such as Amazon, Bass Pro Shops, Dunham’s Sports and Mid-States Distributing, noted Bob DeAngelis, Executive Managing Director of Tiger Finance. “We are excited to partner with Merchants in providing capital to this growing operation,” he said. “By expanding this credit facility, the two firms are empowering Arctix to seize additional market opportunities.”
“For 20 years, Arctix has been protecting millions from the cold and the wet, the snow and the wind—on the slopes, in the backyard and at their jobs,” added Alpha 6/Arctix Principal Matthew J. Bruderman. “Tested, trusted and loved by millions, Arctix boasts 150,000 five-star reviews and counting. I’m extremely excited to explore the new terrain ahead as this dynamic brand continues to grow.”
Tiger Finance is a division of Tiger Capital Group, which specializes in the provision of secured debt financing and equity investments, as well as comprehensive appraisals for the ABL industry and the disposition of consumer and industrial assets.
Merchant Financial Group offers a full suite of working-capital solutions, including factoring, asset-based lending, and purchase order and direct-to-consumer financing. In addition, the privately-held firm provides strategic development consulting and credit protection and collection services to diverse clients, from luxury ecommerce to libations.
Media Contacts: Jaffe Communications, Elisa Krantz, (908) 789-0700, firstname.lastname@example.org.
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SOURCE Tiger Group