Second Avenue Capital Partners Closes Credit Facility with Tommie Copper
BOSTON, Massachusetts – May 16, 2018 – Second Avenue Capital Partners, LLC, (SACP) announced it has provided a senior secured credit facility to Tommie Copper, the innovative authority in creating premium patented copper compression products. The credit facility will be used to fund working capital and additional growth opportunities.
Founded in 2010 and supported by a strategic investment from Tengram Capital Partners in 2014, Tommie Copper is the original innovator of copper-infused comfortable compression apparel and accessories, promoting wearable wellness designed for everyday wear. Today, Tommie Copper offers a diversified range of products including knee, elbow and ankle sleeves, shoulder shirts, socks, gloves, underwear and back braces.
“Our goal was to find a partner that could appreciate our strategy, but also understand the industry and capital required to fund growth opportunities that will enable us to realize the full potential of our business,” said Sol Jacobs, CEO of Tommie Copper. “Second Avenue Capital Partners brought a lot to the table. Specifically, we were impressed by their deep knowledge of the consumer product business and their first-hand experience navigating the current retail and wholesale environment.”
Brian Cooper, Principal of Tengram, concurred. “In partnership with the management team of Tommie Copper, we set out to unlock the potential of the brand. We believe Second Avenue Capital Partners is the best choice for helping us transition to this next phase.”
“Tommie Copper is a brand that encompasses every venue we like to work with – retail, wholesale, and licensing,” said Mark E. Gallivan, Managing Director and one of the founding members of Second Avenue Capital Partners. “Mr. Jacobs, and his entire management team, have a real vision for the future of the Tommie Copper brand. We understood this vision, and we saw the opportunity to work with them and become a part of the Tommie Copper story. Tommie Copper is well positioned for the future, and SACP is proud to be part of their evolution.”