SLR Credit Solutions (“SLR”) announced the closing of a $130,000,000 Senior Secured Last Out Term Loan for Revlon (the “Company”). Founded in 1932, Revlon is a leading global beauty company offering innovative and on trend products in color cosmetics, skin care, hair color, hair care and fragrances under brands such as Revlon, Elizabeth Arden, Almay, CND and American Crew.
Proceeds from the transaction were used refinance existing debt and provide the Company with enhanced liquidity and flexibility to continue growing the business.
“We are excited about our partnership with SLR Credit Solutions,” said Victoria Dolan, Chief Financial Officer of Revlon. “SLR was able to underwrite a $130,000,000 term loan as part of the recent refinancing process and worked very efficiently with our revolver lender, MidCap Financial, to quickly close the transaction. Their extensive experience in consumer products and ability to work collaboratively with MidCap was instrumental in our decision to work with the SLR team.”
Tyler Harrington, Managing Director of SLR Credit Solutions added, “It was a pleasure to work with the Revlon management team and MidCap Financial to execute this transaction. Revlon successfully navigated a very challenging business environment throughout 2020 and is now well positioned for growth. We look forward to a long term, mutually beneficial partnership.”
About SLR Credit Solutions
SLR Credit Solutions (f/k/a Crystal Financial), a portfolio company of Solar Capital Ltd., is a leading provider of direct private credit focused on originating, underwriting, and managing both asset-based and cash flow financings from $25 – $125 million to middle-market companies. Since its inception in 2006, its team of experienced, responsive professionals have provided more than $4 billion in secured debt commitments across a wide range of industries. For more information, please visit www.slrcreditsolutions.com.
Revlon has developed a long-standing reputation as a color authority and beauty trendsetter in the world of color cosmetics and hair care. Since its breakthrough launch of the first opaque nail enamel in 1932, Revlon has provided consumers with high quality product innovation, performance and sophisticated glamour. In 2016, Revlon acquired the iconic Elizabeth Arden company and its portfolio of brands, including its leading designer, heritage and celebrity fragrances. Today, Revlon’s diversified portfolio of brands is sold in approximately 150 countries around the world in most retail distribution channels, including prestige, salon, mass, and online. Revlon is among the leading global beauty companies, with some of the world’s most iconic and desired brands and product offerings in color cosmetics, skin care, hair color, hair care and fragrances under brands such as Revlon, Revlon Professional, Elizabeth Arden, Almay, Mitchum, CND, American Crew, Creme of Nature, Cutex, Juicy Couture, Elizabeth Taylor, Britney Spears, Curve, John Varvatos, Christina Aguilera and AllSaints.
SLR CREDIT SOLUTIONS
Cheryl Carner, Senior Managing Director & Head of Originations