Siena Lending Group LLC (“Siena”) announces the completion of a $7.0 million asset-based revolving credit facility for Lime Crime, Inc. (“Lime Crime”). The facility will be used to support the company’s working capital needs and continued growth.
Lime Crime, headquartered in Woodland Hills, CA, is an innovative cult-status cosmetics and hair color brand majority-owned by private equity firm Tengram Capital Partners LLC (“Tengram”). Founded in 2008 by Doe Deere, Lime Crime designs trend-setting products with whimsical packaging and experiences to make their customers feel “magical.” Lime Crime prides itself in its cruelty-free and vegan makeup products which include lipsticks, eyeshadows, hair tints, pop on nails, makeup brushes and highlighters. One of the first digitally-native, direct-to-consumer beauty brands, Lime Crime is now a top digital leader thanks to its huge social influence, with over 3.5 million Instagram followers.
Scott Elliotto, Director of Siena, said, “Due to Lime Crime’s significant growth, they needed a lender that could execute in a short time frame and we were confident we could meet it. The transaction was completed in 3 ½ weeks. Tengram has proven to be a great partner and we look forward to working with another portfolio company.”
Rich Gersten, a Partner at Tengram, said, “We have worked with the Siena team before and we knew they would be able to move quickly under our tight time frame. Siena has been a great partner for Tengram.”
Tengram Capital Partners, LLC is a private equity firm that focuses exclusively on leading middle-market consumer and retail companies that own strong recognizable brands. The team has a diverse background of consumer investing and operating expertise that assists and guides company management to unlock the true potential of their brand. Tengram invests in both traditional “growth” and “restructuring/turnaround” situations in either the public or private sectors. For more information please visit www.tengramcapital.com.