Kent Outdoors Announces $100 Million Credit Facility From Eclipse Business Capital to Support Growth Strategy
SALT LAKE CITY, April 19, 2024 /PRNewswire/ -- Kent Outdoors ("Kent" or the "Company"), which has been helping people in their pursuit of outdoor adventures for more than 60 years, today announced a $100 million credit facility from asset-based lender (ABL) Eclipse Business Capital. The new ABL facility follows recent investments from Goldman Sachs and Comvest Partners. These investments are critical to the Company's efforts to implement a strategy for future growth and success as it continues to market innovative new products for outdoor enthusiasts and adventure seekers.
- It was a pleasure partnering with such a select group - the Company, Arete Capital Partners as well as term lenders including Goldman Sachs and Comvest," said Marty Battaglia, chief executive officer of Eclipse Business Capital.
- With the financial support of its backers, Kent expects to make significant operational improvements, as well as bring in new leadership.
- The capital investment is instrumental to maintaining solid partnerships with our key vendor partners and customers while allowing Kent the flexibility to also pursue new growth opportunities," said Kent Executive Chairman Lee Belitsky.
- "Coupled with new additions to the Kent executive leadership team, we are excited to support the Company as it focuses on its next phase of growth."