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
jahn@gacapitalpartners.com
310-689-2215
Media Inquiries:
Kelly
Phillips, Marketing Director
B. Riley & Co.
kphillips@brileyco.com
310-689-2224
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SOURCE Great American Capital Partners, LLC