Second Avenue Capital Partners, SB360 Capital Partners, & Ares Commercial Finance Back CSC Generation Enterprise's Acquisition Of Backcountry With $112,000,000 Credit Facilityb

Schottenstein affiliates Second Avenue Capital Partners (SACP) and SB360 Capital Partners (SB360), providers of customized solutions for the retail and consumer product sectors, along with Ares Commercial Finance (Ares), are pleased to announce the closing of a $112,000,000 Senior Secured Revolving Credit Facility and Term Loan for Backcountry, the leading, premium specialty retailer of outdoor gear and apparel. The new financing package refinanced a previous facility and supported the company's acquisition by venture-backed firm CSC Generation Enterprise (CSC).

Backcountry was founded in 1996 by Jim Holland and John Bresee in Park City, Utah. Holland was a former ski jumper, and Bresee was a journalist and web developer. The company started as a small online shop focused on backcountry skiing gear, which was a niche market at the time. The website initially sold avalanche beacons, a critical safety tool for backcountry skiers.

Today, the company sells not only its own exclusive brand, Backcountry, but also a wide range of products from established brands like Columbia, Patagonia, The North Face, and Specialized, as well as emerging brands such as Hoka and On Running. Backcountry has an omni-channel presence selling through four e-commerce banners (Backcountry, Steep & Cheap, Competitive Cyclist, and MotoSport), two 3rd party marketplaces (Amazon and eBay), and nine Backcountry retail stores located in six states and the District of Columbia.

"We are thrilled to partner again with the CSC team," said Mark E. Gallivan, Managing Director of Second Avenue Capital Partners. "When they approached us to support their acquisition of Backcountry, we jumped at the opportunity to support a sponsor who we've seen first-hand succeed in the specialty retail sector."

CSC and SACP first paired up for CSC's acquisition of Sur La Table in 2020. Since then, the two firms have done multiple deals together.

"Second Avenue Capital Partners has been our go-to source of financing for several years," said Justin Yoshimura, CEO of CSC. "We are incredibly excited about the Backcountry deal and the opportunity to shepherd the business into its next era of success. With their sector expertise, having SACP and SB360 as financing partners allows us to focus on executing our business plan, knowing they have our financing needs covered."

Second Avenue Capital Partners has a proven track record of providing financial solutions to companies in the wholesale, retail, and consumer goods sectors, focusing on fostering sustainable growth and success. The firm's strength and affiliations make SACP an ideal lending partner, adding value and support to take businesses to the next level.

SB360 Capital Partners and Ares Commercial Finance played a pivotal role in providing the total financing package extended to Backcountry. Aaron Miller, President of SB360, emphasized the strategic advantage of their involvement: "As an affiliate of the Schottenstein organization with significant expertise in collateral, SB360 was able to offer added flexibility in structuring this type of financing. Collectively, we could better tailor the solution to meet Backcountry's unique needs." He continued, "This deal also afforded us an exciting opportunity to collaborate with Ares Commercial Finance, a lender that shares our vision and approach, creating a powerful partnership in delivering this financing."