Big M, Inc.

$20 MILLION SENIOR-SECURED CREDIT FACILITY

TRANSACTION OVERVIEW

The Company was seeking a new Revolving Credit Facility that provided for the implementation of an operational restructuring plan led by GRL Capital Advisors, LLC.  In order to address their short-term financing needs, Big M and GRL sought to engage a Lender to fund operations during the restructuring as well as establish a long-term relationship.

OPPORTUNITY

To provide the Company a Senior-Secured Revolving Credit Facility with an accordion feature to satisfy the business’ liquidity needs as the Company and its advisor execute its operational plan.  Salus also implemented a Junior lien debt structure that will allow the Company to effectuate its re-positioning and gain more favorable terms with its trade vendors.

SALUS CAPITAL’S SOLUTION & ADDED VALUE

With Salus’ expertise and creativity, the management team and its advisor were able to have meaningful negotiations with key landlords and vendors to successfully execute the initial initiatives within its strategic plan..  Understanding that Big M is a family owned company with a unique organizational structure, we were able to work closely with all the family members to protect their vested interest in a leading middle-market business. In addition, Salus offered an accordion feature that supports the strategic growth of the Company without being subjected to a second approval process. The strong commitment amongst the family and GRL Capital  to this new facility and the Salus platform will revitalize Big M to continue its leading position among the specialty retail apparel vertical.