Second Avenue Capital Partners (SACP) announced May 18 that it closed a $67.5 million term loan for The Jessica Simpson Collection, a $1 billion fashion empire and lifestyle brand.
Private Credit associate Michael Howald represented The Jessica Simpson Collection in the negotiation of the new credit facility.
The new financing by SACP, the Schottenstein-backed lending arm of SB360 Capital Partners, will be used to retire an existing credit facility and provide additional liquidity to fund new growth and an expanded portfolio.
"While this facet of our relationship may be new, our experience with Schottenstein goes back to our roots," Jessica Simpson, CEO of the Jessica Simpson Collection, said in a news release. Entertainment icon Jessica Simpson launched her label in 2005 under the guidance of Vince Camuto and the Camuto Group.
In 2018, Schottenstein-led Designer Brands Group partnered with Authentic Brands Group to acquire Camuto Group. "Vince used to say, 'without the right people, you're nowhere'. We have that in our management team, we count on it from our licensing partners, and now we can rely on it from our financing partner," Jessica Simpson said. "It feels amazing to have full control of our company and with the right support in place, the sky's the limit."
"Fashion Powerhouse Jessica Simpson Partners With Schottenstein Backed Second Avenue Capital Partners," PR Newswire, May 18, 2022