NEW YORK, January 07, 2022–(BUSINESS WIRE)–Sound Level Capital Administration (“Sound Level”) is happy to announce that it closed on a senior secured time period mortgage financing to a subsidiary of Perry Ellis Worldwide (“Perry Ellis” or the “Firm”), an proprietor of well-established retail manufacturers. Funding offered by Sound Level will probably be used to pay down the Firm’s present debt. The Firm has been in enterprise for 54 years and was previously a public firm earlier than a take-private transaction in 2018. Perry Ellis owns a diversified suite of manufacturers which generate ample money circulation via licensing to third-party producers. “Perry Ellis owns an array of iconic client manufacturers which it has managed efficiently for many years,” stated Marc Sole, Portfolio Supervisor and Head of Opportunistic Credit score at Sound Level. “We’re thrilled to associate with the gifted crew at Perry Ellis and the Feldenkreis household to assist the enterprise via its subsequent stage of progress.”
“We imagine Sound Level Capital is a perfect monetary associate primarily based on their eager experience in model and licensing improvement, because it offers extra alternatives for enlargement of our home and worldwide licensing enterprise with our premier manufacturers equivalent to Perry Ellis®, Unique Penguin by Munsingwear®, Laundry by Shelli Segal®, Gotcha®, amongst others,” acknowledged George Feldenkreis, Chairman of Perry Ellis Worldwide. “This association will allow us to progress on our model portfolio’s future elevation journey, inspiring shoppers globally whereas delivering sustainable long-term progress and proceed to validate the worth of our manufacturers,” acknowledged Oscar Feldenkreis, CEO and President of Perry Ellis Worldwide.
About Sound Level Capital Administration, LP
Sound Level is an alternate asset administration agency based in 2008 with explicit experience in credit score methods. Primarily based in New York, with places of work in London, the agency manages cash on behalf of institutional traders together with top-tier pensions, foundations, insurance coverage corporations, wealth administration companies and household places of work. Sound Level’s methods span the spectrum of liquid and illiquid credit score alternate options and embrace funds and managed accounts targeted on leveraged loans, particular conditions, distressed debt, structured credit score, direct lending and business actual property. Sound Level presently manages roughly $28.9 billion of belongings. 5 principals of Stone Level Capital LLC, in addition to Dyal Capital Companions, a division of Blue Owl Capital Inc. [NYSE: OWL], are strategic traders in our enterprise. For extra data, please go to Sound Level’s web site at www.soundpointcap.com.
About Perry Ellis Worldwide
Perry Ellis Worldwide, Inc. is a number one designer, distributor, and licensor of a broad line of top of the range males’s and ladies’s attire, equipment, and fragrances. The corporate’s assortment of gown and informal shirts, golf sportswear, sweaters, gown pants, informal pants and shorts, denims put on, lively put on, attire, and males’s and ladies’s swimwear is on the market via all main ranges of retail distribution. The corporate, via its wholly owned subsidiaries, owns a portfolio of nationally and internationally acknowledged manufacturers, together with: Perry Ellis®, An Unique Penguin by Munsingwear®, Laundry by Shelli Segal®, Rafaella®, Cubavera®, Ben Hogan®, Savane®, Grand Slam®, John Henry®, Manhattan®, Axist® and Farah®. The corporate enhances its roster of manufacturers by licensing logos from third events, together with: Nike® for swimwear, and Callaway®, PGA TOUR®, and Jack Nicklaus® for golf attire. Extra data on the corporate is on the market at www.pery.com.
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