Capstone Headwaters has advised Vintage Stock, Inc., a subsidiary of Live Ventures Incorporated (Nasdaq: LIVE), on the placement of a new $24 million senior secured term loan, the proceeds of which were used to refinance an existing second lien term loan. Capstone Headwaters served as the sole financial advisor on the placement of the new loan with Comvest Credit Partners, a direct lending firm that provides flexible financing solutions to middle-market companies.
Founded in 1980 and based in Joplin, Missouri, Vintage Stock is an award-winning entertainment retailer that sells new and pre-owned movies, classic and current generation video games and systems, music on CD & LP, collectible comics, books, toys, and more. Live Ventures is a diversified holding company with several wholly owned operating subsidiaries in a variety of industries including manufacturing, customer service, and specialty retail.
Live Ventures Incorporated, originally incorporated in 1968, is a diversified holding company with several wholly owned subsidiaries and a strategic focus on acquiring profitable companies that have demonstrated a strong history of earnings power. Through its subsidiary, Marquis Industries, the company operates as a specialty, high-performance yarn manufacturer and hard-surfaces re-seller. Marquis Industries, which is a top-10 high-end residential carpet manufacturer in the United States, utilizes its state-of-the-art yarn extrusion capacity to market monofilament textured yarn products to the artificial turf industry. Marquis is the only manufacturer in the world that can produce certain types of yarn prized by the industry. Through its subsidiary Vintage Stock, an award-winning entertainment retailer, the company sells new and pre-owned movies, classic and current generation video games and systems, music on CD & LP, collectible comics, books, toys, and more. Vintage Stock, through its stores and website, ships product worldwide directly to the customer's doorstep. Through its subsidiary ApplianceSmart, the company sells new major household appliances in the United States through a chain of company-owned retail stores operating under the name ApplianceSmart®.
Comvest Credit Partners focuses on providing flexible financing solutions to middle-market companies. Comvest Credit Partners provides senior secured, unitranche, second lien, and mezzanine capital as well as equity co-investments. Comvest Credit Partners lends to sponsored and non-sponsored companies, in support of refinancings, growth capital, acquisitions, buyouts, and recapitalizations. Credit facilities typically range from $20 million to $200 million for companies with revenues greater than $15 million.