MidCap Financial Closes $60mm Senior Secured Credit Facility to evo ​

BETHESDA, MD, April 30, 2025 – MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided senior secured credit facility to Evolucion Innovations, Inc. (“evo” or the “Company”). Proceeds from the credit facility were used to refinance the Company’s existing credit facility and to support the ongoing working capital needs of the Company. The credit facility has a three-year term and gives evo access to up to $60mm in total credit, consisting of $50mm in commitments with an accordion facility of an additional $10mm.

About the Company

evo is a global outdoor retail and experiences Company, with a family of brands spanning retail, gear, travel, and hospitality. Founded in 2001 by Bryce Phillips and based in Seattle, WA, the Company connects with customers through an ecosystem of evo stores in the US and Whistler, evo.com, Rhythm Japan, evo Hotels, The Callaghan outside of Whistler, evoTrip, Rhythm Rides and All Together Skateparks in Seattle and SLC.

About MidCap Financial

MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of December 31, 2024, MidCap Financial provides administrative or other services for over $53 billion of commitments*. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $751 billion as of December 31, 2024, in credit, private equity and real assets funds.

For more information about MidCap Financial, please visit www.midcapfinancial.com.

For more information about Apollo, please visit www.apollo.com.

*Including commitments managed by MidCap Financial Services Capital Management LLC, a registered investment adviser, as reported under Item 5.F on Part 1 of its Form ADV

Contact:
MidCap Financial Services, LLC
Garrett Fletcher, President of Structured Finance
301-841-6439
gfletcher@midcapfinancial.com