Alpha 6 Distributions, the company behind the Arctix line of winter clothing, will get $38 million in growth finance from a joint venture between Tiger Finance and Merchant Financial Group.
Tiger Group and Merchant Financial Group have worked together on numerous retail and wholesale asset advising projects, valuations, and financings, making them long-term strategic partners.
Tiger Finance was contracted by Merchant Financial Group, Alpha 6’s major lender, to give the Locust Valley, New York-based company an additional $15.2 million in growth funding. With Tiger’s contribution, the credit facility’s total amount is now $38 million.
Doreen Driscoll, senior vice president and team leader at the privately held company with headquarters in New York, Los Angeles, and Boca Raton, Florida, stated, “At Merchant Financial, we’re committed to offering forward-thinking financial services that propel business success.” “Tiger Finance shares that dedication and has a remarkable track record of working with borrowers in the omni-channel and e-commerce market,” the statement reads.
Alpha 6/Arctix Principal Matthew J. Bruderman continued, “For 20 years, Arctix has protected millions from the cold and the damp, the snow and the wind—on the slopes, in the backyard and at their jobs. “With 150,000 five-star reviews and counting, Arctix has been tried, tested, and loved by millions. In light of the future exploration of the uncharted territory by this vibrant brand, I am incredibly eager.”
Bob DeAngelis, Executive Managing Director of Tiger Finance, stated that high-quality, reasonably priced ski and other outdoor apparel by Arctix continues to sell successfully through channels including Amazon, Bass Pro Shops, Dunham’s Sports, and Mid-States Distributing. We are eager to collaborate with Merchants in supplying capital to this expanding business, he said. The two businesses are enabling Arctix to take additional actions by expanding this loan facility.
A branch of Tiger Capital Group, Tiger Finance specialises in the sale of consumer and industrial assets as well as the supply of secured loan financing and equity investments for the ABL sector.
A broad range of working-capital options are provided by Merchant Financial Group, including factoring, asset-based lending, purchase order and direct-to-consumer finance. The privately held company also offers advisory services for strategic development, credit protection, and collection to a wide range of clients, including upscale e-commerce and the beverage industry.
News Summary:
- Arctix, a clothing brand, receives $38 million in growth capital from Tiger Finance and Merchant Financial Group
- Check all news and articles from the latest Business news updates.
