Challenge

Carol’s Daughter was self-financed before this strategy change and needed a line of credit to execute the plan, at the same time the company was putting its retail subsidiary into bankruptcy.

Solution

Siena was able to provide financing for the remarketing plan.

Result

Carol’s Daughter was with Siena for less than a year before being sold to L’Oréal.

Carol’s Daughter was in the midst of a strategy change, going from department stores as well as their own retail locations to selling into the mass market and big box retailers. They needed a financing partner who wasn’t afraid of this change and was okay with them putting the retail side into bankruptcy. We saw the value in the business and worked with them and Pegasus through the process as they executed their plan. Within a short time, they were sold to L’Oréal and Pegasus exited the investment.

Scott Elliotto
Director – New Business Originations, Siena Lending Group