SupplyKick Has Secured a New Senior Credit Facility with Encina Business Credit
HOUSTON, December 13, 2018 -- GulfStar Group ("GulfStar") is pleased to announce that SupplyKick, LLC ("SupplyKick" or the "Company") has secured a new senior credit facility with Encina Business Credit, LLC ("Encina") to refinance its existing senior debt and provide working capital for growth. GulfStar served as the exclusive financial advisor to SupplyKick throughout the transaction, which closed on November 2, 2018.
Founded in 2014 and headquartered in Indianapolis, SupplyKick is a leading eCommerce retailer, working directly with more than 50 brands to manage and optimize sales on Amazon as well as other eCommerce sites such as eBay and Walmart.com. The Company utilizes advanced technology and strategies to expand its manufacturing partners' online sales by managing marketing, advertising, logistics and compliance. "We are very pleased with the outcome of this transaction," said Josh Owens, CEO of SupplyKick. "We enjoyed working with GulfStar on this fast-moving transaction, the result of which is a new partnership with Encina that will enable us to grow at a faster pace and with more flexibility than we had previously."
Encina is an independent asset-based lending platform targeting middle-market borrowers in the U.S. and Canada. The firm provides revolving lines of credit and term loans ranging in size from $5 million to $100 million and secured by accounts receivable, inventory, machinery & equipment and real estate.
"SupplyKick has invested heavily in its business in recent years, which led to significant growth and a need for additional capital to expand its inventory to support growth," said Brian Lobo, managing director of GulfStar and head of the firm's Debt Advisory Group. "The partnership with Encina will allow the Company to establish new relationships with high growth brands while also capitalizing on growth initiatives within its existing manufacturing partners."
The GulfStar team was led by Managing Directors, Brian Lobo and Roshan Gummattira.
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About GulfStar Group
GulfStar is a leading middle market investment bank headquartered in Houston. GulfStar specializes in providing merger and acquisition advisory services, institutional private placements of equity and debt, and general corporate finance advisory services to companies with revenues or enterprise values generally ranging from $25 million to $350 million. Since its formation in 1990, GulfStar has completed more than 675 transactions in 34 states and 16 foreign countries across a variety of industries.