New debt financing to support women’s lifestyle retailer’s store expansion

Soft Surroundings has completed a dividend recapitalization that was financed through an expansion of the existing credit facility.



The women’s lifestyle retailer is in the midst of a nationwide store expansion strategy, and the new debt financing includes a designated facility to fund future store openings. The company opened 11 new stores in 2015 and has identified over 15 locations for 2016.



“We are thrilled with Soft Surroundings’ outstanding operating results,” said Roger Goddu, chairman of the Soft Surroundings board and a partner at Brentwood Associates, majority owner of the retailer. “The company’s continued success in retail as measured by both unit and same-store sales growth is a direct result of the hard work and dedication of the Soft Surroundings management team.”



The financing for the Soft Surroundings recapitalization was provided by CIT Bank, N.A.; Zions First National Bank; KeyBank National Association; Bank of America Merrill Lynch; and Banc of California.



Founded in 1999 and headquartered in St. Louis, Missouri, Soft Surroundings product offering consists of soft, unique and easy-to-wear clothing, bedding and beauty and fragrance products. Soft Surroundings reaches its customer through physical stores as well as its print, digital and social media channels.