Golub Capital announced it acted as Administrative Agent and Joint Lead Arranger in providing an $85 million first lien term loan and $20 million second lien term loan to support the acquisition of R.G. Barry Corporation by Mill Road Capital. Golub Capital also structured an ABL revolver.
Founded in 1947 and headquartered in Pickerington, OH., R.G. Barry is a leading developer and marketer of branded accessory lifestyle products that provide fashion and function. The company offers products in three distinct segments of the accessory universe-footwear, including the iconic Dearfoams slippers, handbags and foot care. R.G. Barry products are primarily sold in North America by a broad cross-section of retailers.
“The company’s leading market share in the footwear segment and long-term customer relationships provide a great foundation for growth in the broader accessories segment. Mill Road and management are adept at identifying and executing on these opportunities and we look forward to partnering with them to grow the business,” said Golub Capital Senior Managing Director Gregory Cashman.
“Golub Capital has proven to be a thoughtful and flexible financing partner on this and other transactions. Theyve once again demonstrated their acumen in structuring and syndicating a complex debt structure in a public to private transaction,” said Mill Road Managing Director Charles Goldman. “Golub always adds value beyond the capital they provide.”
