Livingstone’s Debt Advisory team has completed successful refinancing of Calumet Photographic Inc. by Shannon Capital Management, LLC. Livingstone acted as the exclusive financial adviser to Calumet.
Calumet is the leading multi-channel specialty retailer of high-end photographic and video equipment in the US. The Company has been serving professional and advanced amateur photographers since 1939 through its online website and 32 retail locations covering United States, United Kingdom, Netherlands, Belgium and Germany.
The refinancing positions the Company for continued growth, allowing for significant improved liquidity and better positioning Calumet to execute its strategic plan.
Head of Debt Advisory at Livingstone Chicago, Director Tom Lesch commented: “Having a lender with experience in specialty retail was paramount. Shannon’s knowledge of the space enabled us to collaboratively structure a deal that gives Calumet additional liquidity while also allowing for flexibility to execute the Company’s growth plans.”
“We have worked with many companies in the consumer/retail sector over the past several years and the Calumet transaction is the latest example of our team leveraging both our industry experience and special situations expertise to yield the best results for our client and all constituents,” commented Partner at Livingstone Chicago Joseph Greenwood.
Calumet represents Livingstone’s 10th debt deal in the past twelve months.