SOURCE: Great American Group, Inc.

Great American Group, Inc.

December 01, 2010 12:59 ET

GA Capital, LLC, Announces Term Loan to Conn's, Inc.

WOODLAND HILLS, CA--(Marketwire - December 1, 2010) - Great American Group®*, Inc. (OTCBB: GAMR) today announced that its subsidiary GA Capital, LLC will serve as the administrative agent and collateral agent on a $100 million secured term loan facility to Conn's, Inc. (NASDAQ: CONN), a specialty retailer operating 76 retail locations in Texas, Louisiana, and Oklahoma. The $100 million term loan facility, which matures in 2014, is part of a larger re-financing effort by the company, which includes an amended and extended $375 million senior secured asset-based credit facility that matures in November 2013. 

"We have enjoyed working with the Conn's management team to structure an innovative financing solution, and look forward to growing the relationship," said Daniel Platt, President & Portfolio Manager of GA Capital. Mike Poppe, Chief Financial Officer of Conn's, Inc. stated, "We are very appreciative of the support of our lending group and term loan investors. The completion of these transactions will allow us to focus on driving sales growth and improving profitability."

Tennenbaum Capital Partners™ ("TCP"), a Los Angeles based multi-strategy alternative investment management firm, is a lead lender in the term loan. The loan is the third GA Capital agented transaction this year in which TCP has participated.

Andy Gumaer, Chief Executive Officer of Great American Group, Inc. added, "The Conn's transaction is evidence of GA Capital's creative ability to assist companies with their financing needs. GA Capital is one of our more recent business initiatives, and we are pleased that it continues to demonstrate growth in the capital markets."

GA Capital, LLC, based in Boston, MA, is a subsidiary of Great American Group, Inc. and is a provider of junior secured loans to retailers in need of growth capital, working capital, and turnaround financing. 

About Great American Group®
Great American Group, Inc. is a leading provider of asset disposition solutions and valuation and appraisal services to a wide range of retail, wholesale, and industrial clients, as well as lenders, capital providers, private equity investors, and professional service firms. Great American Group has offices in Atlanta, Boston, Chicago, Dallas, London, Los Angeles, New York, and San Francisco.

*Great American Group and the Eagle Design are trademarks registered in the US Patent and Trademark Office and are exclusive property of Great American Group, Inc. 

GAMR-G

Contact Information

  • Investor Contacts:
    Great American Group
    Phil Ahn
    SVP Strategy & Corporate Development
    818-884-3737

    Press Contact:
    Great American Group
    Laura Wayman
    Vice President of Marketing
    847-444-1400 ext. 312
    Email Contact