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The Secured Lender
SFNet's The 81st Annual Convention Issue
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June 28, 2023
Source: Eclipse Business Capital LLC
Chicago, IL – June 29, 2023 – Eclipse Business Capital LLC (“EBC”) announced it has provided financing to certain members of Shoppers World in conjunction with their acquisition of Forman Mills.
Shoppers World is a discount retailer with 40 locations owned by the Dushey family. With the acquisition, Shoppers World continues their growth initiative, by doubling its store count and saving jobs across the Greater Atlantic and Midwest regions.
Sam Dushey, Chief Executive Officer of Shoppers World, said “We are excited to add Forman Mills to the SW family of business, and plan to continue operating all Forman Mills locations, and we look forward to seeing the benefits to both companies from this new acquisition."
“Eclipse is appreciative of the opportunity to partner with Shoppers World by providing them a working capital facility that will allow them to complete their business transformation.” said Jim Gurgone, Eclipse’s Chief Risk Officer.
Originally founded in 2016, EBC is one of the country’s leading independent asset-based lending platforms targeting both privately owned and publicly traded companies across a wide range of industries. The firm provides revolving lines of credit and term loans ranging in size from $10 – 200 million that are secured by collateral such as accounts receivable, inventory, equipment or real estate.
Since it was established, EBC has underwritten more than 90 transactions totaling over $3.5 billion in aggregate credit facilities. EBC has an experienced team of 45 professionals, located in Chicago, Dallas, New York, Connecticut, Los Angeles, San Francisco, Houston, Charlotte and Miami and provides financing to middle-market borrowers in the U.S. and Canada.
Shoppers World is a discount retailer with 40 locations owned by the Dushey family. With the acquisition, Shoppers World continues their growth initiative, by doubling its store count and saving jobs across the Greater Atlantic and Midwest regions.
Sam Dushey, Chief Executive Officer of Shoppers World, said “We are excited to add Forman Mills to the SW family of business, and plan to continue operating all Forman Mills locations, and we look forward to seeing the benefits to both companies from this new acquisition."
“Eclipse is appreciative of the opportunity to partner with Shoppers World by providing them a working capital facility that will allow them to complete their business transformation.” said Jim Gurgone, Eclipse’s Chief Risk Officer.
Originally founded in 2016, EBC is one of the country’s leading independent asset-based lending platforms targeting both privately owned and publicly traded companies across a wide range of industries. The firm provides revolving lines of credit and term loans ranging in size from $10 – 200 million that are secured by collateral such as accounts receivable, inventory, equipment or real estate.
Since it was established, EBC has underwritten more than 90 transactions totaling over $3.5 billion in aggregate credit facilities. EBC has an experienced team of 45 professionals, located in Chicago, Dallas, New York, Connecticut, Los Angeles, San Francisco, Houston, Charlotte and Miami and provides financing to middle-market borrowers in the U.S. and Canada.
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