HIG WhiteHorse, a credit affiliate of global investment firm HIG Capital, has arranged a EUR35 million holding company PIK loan financing for Suitsupply, a leading men’s clothing retailer.
Founded in 2000 in Amsterdam, Suitsupply operates through its own extensive retail network in Europe, North America and Asia. Suitsupply’s revenues are in excess of EUR150 million, and have been growing at more than 25% per year.
HIG WhiteHorse has provided a flexible financing structure, supporting the company’s management in buying out their minority shareholders and the business for the next stage of its growth and international expansion. The management team now controls 100% of the equity.
Haseeb Aziz, Managing Director at HIG WhiteHorse, says: “Suitsupply is a very successful men’s clothing retailer with a unique market position and strong potential for continued growth. We are delighted to provide a customized financing solution to support management to take full ownership of their company. This transaction demonstrates our ability to provide bespoke, flexible and deliverable financing solutions in a timely manner.”
Fokke De Jong, Founder and CEO of Suitsupply, says: “HIG WhiteHorse made a very thorough analysis of our business and understood our growth drivers and markets. The creative financing solution they put in place will help fuel further growth in the US, Asia and Europe.”
