Heritage Capital Group Announces Successful Debt Restructuring of 1st Place Team Sales and Rox Volleyball
APRIL 2016 - Heritage Capital Group is pleased to announce the successful closing of debt refinancing for 1st Place Team Sales, Inc. (“1st Place) and Rox Volleyball, Inc. (“Rox”).
1st Place is a distributor of team apparel for indoor volleyball teams at the amateur level, primarily club volleyball teams. 1st Place carries all manufacturers of volleyball apparel.
In 2009, 1st Place formed a sister company, Rox Volleyball. The purpose of Rox was to develop an indoor and beach volleyball brand. Rox stays up to date with fashion trends incorporating performance, provides a total custom to semi-custom line, and stocks product for quick response to the marketplace.
In 2009, 1st Place formed a sister company, Rox Volleyball. The purpose of Rox was to develop an indoor and beach volleyball brand. Rox stays up to date with fashion trends incorporating performance, provides a total custom to semi-custom line, and stocks product for quick response to the marketplace. With the recent rapid growth of beach volleyball, Rox has also captured market share in the collegiate and professional markets.
Troy and Danielle Olson, owners of 1st Place and Rox commented, “Securing this financing was critical to the future growth of our companies. Heritage’s assistance was invaluable in connecting us, and presenting our story to the right financial institutions.”
Bill Prescott, the principal with Heritage that led the effort said, “We were able to use Heritage’s strong relationships with multiple financial institutions to secure an excellent financing package. The financing allowed 1st Place and Rox to restructure their balance sheet, and provide the growth capital needed to expand their sales into all sports. In addition, they can now expand the offerings of its lifestyle brand.”
iBERIABANKprovided the debt financing to 1st Place and Rox. iBERIABANK is a financial holding company headquartered in Louisiana, with offices in Arkansas, Tennessee, Alabama, Texas, Georgia, and Florida.
Heritage Capital Group provides a range of investment banking services, including buy-side and sell-side M&A advisory work, business valuations, litigation support, exit planning, value enhancement and strategic advisory services, including restructuring and reorganization consulting. Heritage Capital Group is a FINRA regulated broker-dealer and the Florida headquarters of M&A International Inc., which extends its capabilities on a global scale.