ST. AUGUSTINE, Fla. – Marathon Asset Management has awarded a $155 million credit facility for Brown Jordan Inc., a leading designer, manufacturer, distributor, and retailer of outdoor and indoor furniture for the commercial and residential markets in the U.S.
Proceeds from the financing, comprised of a first lien and second lien term loan, repaid the existing loan in full and positions the company for significant growth. Brown Jordan is a portfolio company of Littlejohn & Co. and is ranked 26 on the FDMC 300.
Founded in 1945 by Robert Brown and Herbert Jordan in Pasadena, Calif., Brown Jordan offers products for the luxury outdoor and indoor furniture market. Known for producing iconic, award-winning designs, Brown Jordan pairs cutting-edge innovation with outstanding craftsmanship. Brown Jordan strives to maintain its founders’ principles of superlative design fused with world-class quality and service and continues to set the gold standard for furnishings today.
“We are thrilled to partner with Marathon and value their shared long-term vision for the future prospects of our business,” said Gene Moriarty, Brown Jordan’s CEO. “We are excited to emerge from the pandemic and related supply chain slowdown with the financial backing of Marathon, which provides the Company with significant runway and flexibility to execute on our plan and continue to drive growth in our business.”
“Brown Jordan, with its high-quality portfolio of brands, strong management team, and leading market positions in the outdoor and indoor furniture markets, is an ideal borrower for Marathon,” said Randy Raisman, a Managing Director at Marathon. “We believe that Brown Jordan is well-positioned to capitalize on several industry tailwinds, including the strength of the residential housing markets, the recovery among the Company’s hospitality clients, and the new initiatives implemented by Gene and the management team that will drive margin expansion for the Company in the future.”
“Marathon has been a lender to Brown Jordan for several years, and we are excited to expand our partnership with the Company and its sponsor Littlejohn & Co. by providing a one-stop-shop refinancing through our Capital Solutions platform,” said Jordan Bryk, a Managing Director at Marathon. “We see significant value in Brown Jordan’s exceptional brand and pent-up demand and look forward to supporting the Company through its next stage of growth.”
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