You Tube

Skip Navigation LinksHome > Industry News
SHARE & BOOKMARK
FaceBook Twitter Delicious Digg LinkedIn

Broder Receives $100 Million In Financing

(4/2/2013)

Counselor Top 40 apparel supplier Broder Bros. (asi/42090) has received $100 million in senior secured debt financing from equity company Prospect Capital Corporation (NASDAQ: PSEC). The financing is meant to be used by Broder to recapitalize the company. Broder's majority stockholder, Littlejohn & Co., worked with Prospect to secure the financing.

"Prospect impressed us with its diligent and efficient underwriting process, helping to recapitalize Broder to position the company for long-term success," said David Simon, a managing director of Littlejohn.

Prospect, which closed approximately $800 million of new originations during the current March 2013 quarter, now has trailing-twelve-month origination investments totaling nearly $3 billion. The company said it expects its Broder investment to help support the company's current management staff. "With our scale team, one of the largest and most experienced in the middle-market, coupled with our deep credit expertise, we are pleased with completing the Broder transaction to support Littlejohn and Broder's experienced management team," said Richard Carratu, a managing director of Prospect Capital Management LLC.



Sponsored By:

Making You Money: What ASI is all about.

Promotional products, also known as ad specialties, make up a $20.5 billion dollar industry and are used by virtually every business in America. Why? Items like mugs, pens and t-shirts are memorable and provide a better cost per impression for advertisers than almost every major marketing effort like prime time TV, magazines and radio.

With so many businesses buying ad specialties there is a huge opportunity for professionals looking to make great money running a promotional products distributorship. It’s easy and inexpensive to get started and you can work from home.

© 2014, The Advertising Specialty Institute®. All Rights Reserved.

  • A business opportunity to reinvent your career in an exciting field
  • Work at home - for yourself - not by yourself
  • Make money selling ad specialties
  • Partner with a time-tested industry leader
  • Get started instantly with all the tools you need