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MidCap Financial Closes a $40 Million Senior Secured Credit Facility to Bedrock Manufacturing Company
May 5, 2025
Source: MidCap Financial
BETHESDA, MD, May 6, 2025 – MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $40 million senior secured credit facility to Bedrock Manufacturing Company, LLC (“BMC” or the “Company”). Proceeds from the credit facility were used to refinance the Company’s existing credit facilities and to support the ongoing working capital needs of the Company.
About the Company
Bedrock Manufacturing Company serves as a platform company encompassing both the Shinola and Filson brands.
About Filson
Filson is a 128-year-old heritage brand specializing in rugged outdoor apparel, based in Seattle, Washington. Renowned for its unwavering commitment to quality and durability, Filson manufactures many of its products in the United States, employing traditional methods and high-quality materials. This steadfast dedication to craftsmanship has solidified Filson's reputation for producing reliable apparel that is often passed down through generations. As an omni-channel retailer, Filson has 16 retail locations (11 in the US, 2 in Canada, 1 in Japan, and 2 in Italy), complemented by a robust e-commerce platform and a thriving wholesale business.
About Shinola
Shinola, founded in 2011 in Detroit, Michigan, prides itself on establishing the first American watch factory in over four decades. As a distinguished omni-channel lifestyle brand, Shinola encompasses 21 retail locations across the United States, complemented by a strong e-commerce presence and thriving wholesale and licensing operations. In 2019, Shinola expanded its brand identity by unveiling its first hotel in Detroit, aptly embodying the brand's essence. The Shinola Hotel has since received numerous accolades and is acknowledged as one of the top 20 hotels in the Midwest.
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 March 31, 2025, MidCap Financial provides administrative or other services for approximately $55 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 $785 billion as of March 31, 2025, 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
