Houlihan Lokey is pleased to announce the successful placement of $140 million senior secured credit facility for AmeriMark Holdings, LLC, a catalog and e-commerce portfolio company of Prudential Capital Partners. The financing consisted of a $75 million ABL revolver and a $65 million senior secured term loan. Proceeds were used to refinance the company’s existing indebtedness ahead of a maturity, as well as to pay related fees and expenses. The transaction closed on September 8, 2016.
Founded in 1969, AmeriMark is a leading catalog and e-commerce direct marketer of apparel, healthcare, general merchandise, and As Seen on TV products for the aged 65+ baby boomer and senior citizen markets. The company distributes 10 branded catalogs through two business units: (i) Dr. Leonard’s Healthcare Corp. located in Edison, N.J., and (ii) AmeriMark Direct, LLC located in Cleveland, Ohio, and six Websites.
Prudential Capital Partners, based in Chicago, Ill., is the mezzanine finance arm of Prudential Capital Group. Prudential Capital Partners typically invests between $10 million and $100 million of junior capital in companies with revenues between $50 million and $500 million. AmeriMark has been a portfolio company of Prudential Capital Partners since 2007.
Houlihan Lokey’s Capital Markets Group served as exclusive placement agent and advisor to AmeriMark for the senior secured credit facility, assisting in arranging, structuring, and negotiating the financing. Blank Rome LLP and Morgan, Lewis & Bockius LLP served as the legal advisors to AmeriMark and Prudential Capital Partners, respectively.
Compliments of Houlihan Lokey – a member of the EACCNY