Rudsak, the Montreal-based outerwear and leather goods brand, has secured a U.S. $20 million senior secured credit facility from Second Avenue Capital Partners (SACP). In addition to the credit facility from SACP, Investissement Québec provided Rudsak with complementary subordinated financing.
Rudsak reported that the “new financing enhances liquidity and gives [it] greater flexibility to invest in its future, including the continued expansion of its e-commerce and wholesale channels.”
Founded in 1994 by CEO Evik Asatoorian, Rudsak manufactures men’s and women’s outerwear, apparel, footwear, and accessories, which has garnered popularity with a celebrity clientele. Its direct-to-consumer network includes 20 full-line stores across Canada and four mall-based locations in the U.S., complemented by digital and wholesale channels.
“Rudsak has demonstrated strong brand equity and consistent customer demand in a competitive retail environment,” said Andrew Prunier, founding member and head of the Portfolio Team at SACP. “This credit facility is structured to provide the liquidity and flexibility needed to support growth and operational execution, while allowing the company to stay true to the brand identity that drives consumer loyalty. We believe this financing positions Rudsak for stable, sustainable long-term performance.”
“The team at SACP understands how the integration of fashion and function is fundamental to both our brand DNA and our growth strategy,” said Asatoorian. “It is refreshing to work with a financing partner that recognizes and supports what differentiates Rudsak in the market. SACP’s financing solution provides a durable foundation for our growth trajectory–allowing us to keep innovating while staying true to who we are.”
Image courtesy Rudsak
