Greenwich, CT, October 23, 2024 – Silver Point Finance, the direct lending business of Silver Point Capital, L.P., today announced that it served as Co-Lead Lender in a refinancing transaction of the outstanding debt of Pure Fishing, a global leader in the fishing tackle industry and portfolio company of Sycamore Partners. The proceeds of the new five-year, $750 million first lien credit facility are being used to repay Pure Fishing’s existing term and asset-backed loans.
Pure Fishing is the largest global designer, marketer and wholesaler of branded fishing equipment in the world. Headquartered in Columbia, South Carolina, the company sells a variety of rods, reels, combos, tackle storage, bait, and fishing line for saltwater, fresh water, and fly-fishing anglers.
“With the additional long-term capital from this transaction, we believe Pure Fishing is well-positioned to drive growth across its brands – and we are pleased to partner with Sycamore Partners to support the company’s continued success as a leader in the fishing industry,” said Anthony DiNello, Head of Silver Point Finance. “Once again, this refinancing highlights our team’s ability to leverage our institutional credit expertise and industry insights to deliver flexible comprehensive solutions that position businesses to more effectively execute on their strategic plans.”
About Pure Fishing
Pure Fishing is a collection of the world’s favorite fishing brands. Every day, all around the world, someone experiences the joy of catching a fish with one of our products. From gear for epic battles at sea to a relaxing day with family at the lake, our portfolio includes the most recognized and admired brands in fishing tackle, lures, rods, reels and storage. Abu Garcia®, Berkley®, DAM®, Fenwick®, Fin-Nor®, Frabill®, Greys®, Hardy®, Hodgman®, Johnson®, JRC®, Madcat®, Mitchell®, Penn®, Pflueger®, Plano®, Prologic®, Savage Gear®, Shakespeare®, SpiderWire®, Stren®, Ugly Stik® and Van Staal®. For more information about Pure Fishing and its product portfolio, please visit www.purefishing.com.
About Sycamore Partners
Sycamore Partners is a private equity firm based in New York. The firm specializes in consumer, distribution and retail-related investments and partners with management teams to improve the operating profitability and strategic value of their business. With approximately $10 billion in aggregate committed capital raised since its inception in 2011, Sycamore Partners' investors include leading endowments, financial institutions, family offices, pension plans and sovereign wealth funds. For more information on Sycamore Partners, visit www.sycamorepartners.com.
About Silver Point Finance
For over 20 years, Silver Point Finance has been an active participant in the direct lending market, providing customized financing solutions to middle-market companies across a broad range of industries. SPF's transactions support acquisitions, refinancings, bridge loans, growth capital, balance sheet restructurings and leveraged recapitalizations. Along with its affiliates, SPF manages approximately $13 billion in investable capital. SPF is the direct lending business of Silver Point Capital, L.P., a leader in global credit investing that oversees the management of approximately $32 billion in investable capital. For more information, please visit silverpointfinance.com.
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