Choate Represents Second Avenue Capital Partners in $120M Line of Credit to The Aaron’s Company

Choate represented Schottenstein affiliate Second Avenue Capital Partners (SACP), a provider of customized solutions for the retail and consumer product sectors, in a $120M senior secured revolving line of credit for The Aaron’s Company, Inc., an industry leader in lease-to-own and purchase solutions for furniture, consumer electronics, home appliances, and more. The new asset-based credit facility, provided by SACP along with Pathlight Capital, is a critical component of the broader financing package arranged to support the take-private acquisition of Aaron’s by IQVentures Holdings, LLC, a leading fintech sponsor.

The transaction reflects SACP’s commitment to providing creative and customized lending solutions to companies across various industries and will help Aaron’s accelerate growth and innovation for their customers.