Belle Brands has expanded its asset-based credit facility with Cambridge Savings Bank to support its acquisition of skincare and makeup company Versed.
The amount of the expanded facility and financial terms of the acquisition were not disclosed.
The transaction represents Belle Brands’ second add-on acquisition as the company builds a broader portfolio of beauty and personal care businesses.
Belle Brands was formed by consumer-focused private investment firm Windsong Global.
Its existing portfolio includes JVN Hair, Pipette and KVD Beauty. The acquisition of Versed adds another brand across skincare, makeup and personal care.
Asset-based credit facilities are generally secured by assets such as inventory and accounts receivable. They can provide acquisition-oriented businesses with flexible borrowing capacity as sales and working capital requirements change.
Cambridge Savings Bank said the expanded facility was structured to support Belle Brands’ acquisition and continued growth.
Belle Brands is led by Global President Teresa Lo and focuses on companies with differentiated market positions, strong consumer recognition and expansion potential.
Windsong Global and its predecessor funds have completed 60 transactions representing more than $10 billion in enterprise value since 2006.
KEY QUOTES:
“Belle Brands has established a compelling platform with a disciplined approach to brand acquisition and value creation.”
Yvonne Kizner, Senior Vice President and Head of Asset-Based Lending at Cambridge Savings Bank
“Cambridge Savings Bank played a pivotal role in helping us complete this transaction.”
Brian Cooper, Partner at Windsong Global
