LOS ANGELES, March 10, 2016 /PRNewswire/ -- Great American Capital Partners, LLC (GACP), a wholly owned subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY), a leading provider of diversified financial and business advisory services, has entered into an agreement with EVINE Live Inc. (NASDAQ: EVLV) to provide a $17 million senior secured term loan. Proceeds from the loan will be used for general corporate purposes and to support the continued growth of EVINE Live.
Founded in 1990, EVINE Live is a digital commerce company that sells brand name and private label products directly to consumers via television, online, mobile, and social media platforms. The Eden Prairie, Minnesota-based company markets a diverse merchandising mix in the categories of jewelry, watches, fashion, beauty, home goods, consumer electronics, kitchen and food essentials.
"We worked closely with the EVINE Live team to provide a financing solution that meets their current and future capital needs," said Robert Louzan, managing director at GACP. "Because of our deep retail and valuation expertise, we were able to demonstrate to EVINE Live our ability to help middle-market companies succeed with the advantage of our client-focused mindset and tailored financing solutions."
Bob Rosenblatt, Chairman and Interim CEO of EVINE Live, added: "Great American showed remarkable attention to and understanding of our unique capital needs, responding with a solution that enables us to more effectively operate in a dynamic retail environment. We look forward to building on this new and supportive partnership with GACP."
About EVINE Live Inc.
EVINE Live Inc. (NASDAQ: EVLV) is a digital commerce company that offers a compelling mix of proprietary and name brands directly to consumers in an engaging and informative shopping experience via television, online and on mobile. EVINE Live reaches approximately 88 million cable and satellite television homes 24 hours a day with entertaining content that invites its community of customers to shop, share and smile in a comprehensive digital shopping experience.
About Great American Capital Partners, LLC
Great American Capital Partners (GACP) is dedicated to providing opportunistic and responsive capital to the underserved middle market. GACP originates and underwrites senior secured loans to companies across a wide array of industries by leveraging deep in-house asset valuation expertise to deliver capital solutions that traditional lenders are typically unable to provide. GACP's customized solutions support a range of growth, refinancing, recapitalization and restructuring needs.
GACP is part of B. Riley Financial, Inc. (NASDAQ: RILY), which provides collaborative financial services and solutions through several subsidiaries, including: B. Riley & Co. LLC, a leading investment bank which provides corporate finance, research, and sales & trading to corporate, institutional and high net worth individual clients; Great American Group, LLC, a leading provider of advisory and valuation services, asset disposition and auction solutions, and commercial lending services; B. Riley Capital Management, LLC, an SEC registered Investment Advisor, which includes B. Riley Asset Management, a provider of investment products to institutional and high net worth investors, and B. Riley Wealth Management (formally MK Capital Advisors), a multi-family office practice and wealth management firm focused on the needs of ultra-high net worth individuals and families.
B. Riley Financial is headquartered in Los Angeles with offices in major financial markets throughout the United States and Europe. For more information on B. Riley Financial, visit www.brileyfin.com.
For More Information:
John Ahn, President
Great American Capital Partners
Kelly Phillips, Marketing Director
B. Riley & Co.
SOURCE Great American Capital Partners, LLC