Seafolly close to landing $10 million in inventory-backed debt
Australian swimwear icon Seafolly is close to finalising a $10 million private debt makeover
The new owner of women's swimwear and beachwear group Seafolly is close to finalising a $10 million inventory-based debt raise from Hilco Capital, according to three sources with knowledge of the transaction.
Seafolly was sold for a reported $70 million earlier this year to Hong Kong based Bondi Brands Group. Former owner, private equity firm L Catterton enlisted FTI Consulting to handle the sale.
The buyer paid with cash and previous debt provider Longreach Capital, which tipped in funding after Seafolly went into administration in 2020, was paid out in the acquisition, two of the sources said.
Longreach Capital had limited interest in lending to the company again, two of the sources said.
