SECOND AVENUE CAPITAL PARTNERS PROVIDES A $17 MILLION CREDIT FACILITY TO CROWN & CALIBER
BOSTON, Massachusetts – April 21, 2020 – Second Avenue Capital Partners, LLC (“SACP”) (www.secondavecp.com) announced it has closed on a $17,000,000 senior secured credit facility to Crown & Caliber, an online marketplace leader in authenticated pre-owned luxury watches. The credit facility will be used to support growth opportunities and provide additional working capital.
Founded in 2013 in Atlanta, GA, Crown & Caliber has created an accessible, transparent, and trusted e-commerce platform to buy and sell pre-owned watches. As a sustainable company, Crown & Caliber gives new life to pre-owned watches and takes the fear and skepticism out of the watch buying and selling process. Crown & Caliber continues to cultivate their watch selection through turnkey trade-in programs with retailers. Today, Crown & Caliber offers a curated selection of brands such as Rolex, Omega, Breitling, Panerai, Patek Philippe, Tag Heuer, and dozens of others.
“Hamilton and his team have built an industry-leading company that has redefined the re-commerce watch market. With consumers continuing to move towards e-commerce and an increase in pre-owned luxury good purchases, Crown & Caliber has positioned themselves for continued success. We are excited to partner with the company as they continue to build on the success of their innovative marketplace and reach more consumers,” said Chris O’Connor, President of SACP.
“As we continue to innovate the re-commerce landscape, we wanted a partner that understood the nuances of our business and could help us structure a capital solution that matched our needs,” said Hamilton Powell, Founder and CEO of Crown & Caliber. “We’re pleased to partner with Second Avenue Capital Partners and believe they are the best choice to support our future growth.”
About Second Avenue Capital Partners, LLC – Second Avenue Capital Partners, LLC (www.secondavecp.com), a Schottenstein Affiliate, is a finance company specializing in asset-based loans for the broader retail and consumer products industry. Focused on serving middle-market companies, SACP leverages the experience of retail operators, product merchants, and lenders to provide an array of customized, capital solutions for businesses. This unique merchant perspective gives SACP the ability to recognize and unlock value in assets other capital providers often overlook or don’t understand. The firm’s tailored financial solutions are a vital resource for clients as they seek the capital necessary to effectuate strategy and achieve financial objectives. Headquartered in Boston, Second Avenue Capital Partners also has offices in New York, Columbus, and Los Angeles.
About Crown & Caliber – Crown & Caliber was founded in 2013 as an exclusively online marketplace for pre-owned luxury watches, including Rolex, Omega, Breitling, Panerai, Patek Philippe, Tag Heuer, and dozens of others. The company is dedicated to its reputation as the most trusted e-retailer of pre-owned luxury timepieces – taking the fear and skepticism out the watch buying & selling process. Based in Atlanta, Crown & Caliber is passionate about watches and the stories they tell about people, culture, and craftsmanship and technology. Crown & Caliber offers the ultimate in customer service and industry expertise. For more information, visit: www.crownandcaliber.com or call (888) 715-9118.