NEW YORK — CapitalSource Finance LLC and private equity firm Golub Capital said last week that they funded a $37.5 million loan to Bruckmann, Rosser, Sherrill & Co. so it could acquire Levtran Enterprises, which operates the Downtown Locker Room retail chain.
The companies did not disclose the total acquisition price, but said in a statement that the “deal’s complex loan structure features multiple tranches of revolving and term loans as well as equity co-investments by both lenders.”
Downtown Locker Room targets urban males between 15 and 24 years old, a “consumer with a unique product mix of footwear, apparel, accessories and music,” according to the company. The retailer operates 50 stores in five “key markets for young African-American males.”
“From a financing perspective, urban retailing is an underserved sector that represents a large, untapped market in the industry,” said Cheryl Carner, CapitalSource’s national director of retail finance, in a statement. “Downtown Locker Room has not only solid unit fundamentals and a seasoned management team, but also the insight and ability to truly meet the needs of the urban consumer.”