Sail Outdoors, Inc. has closed on a $60 million senior secured credit facility which it will use for working capital and general corporate purposes, including expanding its chain of outdoor superstores in Quebec and Ontario.



Wells Fargo Capital Finance Corporation Canada acted as administrative agent and sole lender to the Canadian retailer.

Headquartered in Laval, Quebec, Sail Outdoors, Inc. operates one of the largest networks of outdoor, camping, hunting and fishing stores in Eastern Canada, with a broad selection of brand name labels and products. Sails mission is to become Eastern Canadas Outdoors Superstore by offering the largest choice of brand-name products at incredibly competitive prices.

 

In addition to its broad selection of outdoor clothing, each store displays 20-50 fully assembled models of tents (depending on the season), 40 models of boats (kayaks, canoes), 3,500 pairs of snowshoes, 1,550 models of fishing rods, 500 models of boots and footwear and many other products that will allow you to make the most of your outdoor activities in great comfort and with all your equipment needs met. In total, Sail has over 500,000 items in each of its stores.

It is very exciting to work with a dynamic forefront leading retailer, said Keith Vercauteren, senior managing director and division manager of the Retail Finance division at Wells Fargo Capital Finance. The senior management team has been incredible to work with and we look forward to supporting Sail on the growth strategy they are currently executing.
It is never easy to put a new credit facility in place, however, Wells Fargo did it with professionalism and a dedicated group of people, making the process so much more efficient and pleasant, said Daniel Desmarais, CFO of Sail Outdoors, Inc., which operates nine stores. Sail is very pleased to start a new relationship with Wells Fargo and its team.