Strength Capital Refinances Portfolio Company Smith Mountain Industries, Inc.
Strength Capital Partners L.L.C., a Birmingham, MI based private-equity firm, has closed on the senior debt refinancing of its existing portfolio company, Smith Mountain Industries, Inc. The refinance included $33.0 million of senior secured credit facilities comprised of a $15.0 million asset-based revolving loan and an $18.0 million term loan. The facilities were provided by Wells Fargo and New York-based Deerpath Capital and will be used to execute on the company's growth plans.
Smith Mountain Industries manufactures and sells innovative home fragrance products, including candles, reed diffusers, car scents and candle accessories. The company sells the widely popular WoodWick® and RibbonWick® candles in stores nationwide.