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Tiger Finance offers $ 8.2 million line of credit to outdoor adventure brands

Tiger Finance has closed $ 8.2 million in development financing for Outdoor Adventure Brands (OAB), an e-commerce and retail organization known for its Austin Canoe and Kayak stores in Texas and Summit Sportslocations in Michigan. Private Value Support Digital Fuel Capital, an Internet business-centric investment firm, is an investor in the specialty sporting goods retail company. “Located in Bloomfield Hills, Michigan, Outdoor Adventure Brands is an e-commerce leader in snow sports gear, apparel and paddling categories,” noted Andrew Babcock, Managing Director of Tiger Finance. “As OAB prepares for a busy 2022, this $ 8.2 million credit facility better positions its brands to take advantage of the growing outdoor supplies market. We are delighted to cooperate with OAB on its strategy for the future. “

Summit Sports is a well-known brand in Michigan, with branches in Belmont, East Lansing, Bloomfield Hills, and Brighton. (OAB also operates Don Thomas Sporthaus in Birmingham.) Austin Canoe & Kayak stores are located in the Texas cities of Austin, New Braunfels, Houston and San Antonio.

“We have a long history of partnering with Tiger with a number of companies in our portfolio,” said Steve Owen, vice president, Digital Fuel Capital. “Tiger recognized the value of the business and was able to move efficiently and think creatively to provide the cash needed to support working capital growth. “

The financing deal, which closed on September 29, comes at a time of increasing activity for Tiger Finance, particularly with respect to transactions that include an e-commerce platform or a consumer brand as part of the deal. warranty. Examples at the start of the year include Tiger’s $ 48.5 million revolver / term loan for Daytona Apparel Group, the $ 30 million credit facility for Francesca’s $ 18 million acquisition by TerraMar and the $ 6 million financing of the acquisition of ModCloth by Nogin.

Tiger Finance is a division of Tiger Capital Group, which specializes in providing secured debt financing and equity investments, as well as comprehensive valuations for the ABL industry and disposals of consumer and industrial assets.

“Several factors have combined to increase demand for Tiger Finance’s product among retail, e-commerce and wholesale companies,” noted Bob DeAngelis, Executive Managing Director of Tiger Finance. “It’s everything from growing consumer demand to the ripple effects of supply chain disruptions. As the need for cash grows, Tiger Finance stands ready to respond.

Summary of the news:

  • Tiger Finance offers $ 8.2 million line of credit to outdoor adventure brands
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