We are pleased to inform you that SSG Capital Advisors, LLC (“SSG”) acted as the exclusive investment banker to Ellery Homestyles, LLC in the private placement of a $25.0 million senior secured credit facility and the restructuring of other obligations. The transaction closed in August, 2009.

Ellery Homestyles, LLC, headquartered in New York, NY, is a premier supplier of branded and private label home fashion products to big box specialty retailers, mid-tier department stores and discounters. The Company designs, produces, markets and distributes window curtains, bedding, seasonal throws, decorative pillows and specialty products. The private label segment of the business traces its roots back to 1924. Ellery has earned a reputation among its customers for offering well-designed, value-added products, competitive pricing, excellent quality and superior supply chain management. Over the years, the owner and management team have built the business into a global entity with in-house overseas sourcing, direct import program capabilities, rigorous quality control and qualified overseas contract manufacturers that are capable of producing high quality products in a timely manner.

Despite a weak economic and retail environment, Ellery’s business experienced significant growth beginning in mid 2008 and continuing into 2009 due to market penetration and strong customer pull through. The growth, combined with an already leveraged balance sheet, necessitated that the Company refinance its working capital facility with a flexible lender who could support the company’s needs today and in the future.

SSG was retained by Ellery to raise new capital and restructure existing debt. Professionals at SSG solicited and obtained working capital proposals from multiple middle market capital providers. Ultimately, with the guidance of SSG and other professionals involved in the transaction, the Company was able to close on a $25.0 million asset based facility provided by Wells Fargo Business Credit. Upon closing, the Company also restructured its mezzanine debt.

If you would like to learn more about SSG or inquire about the Ellery Homestyles transaction, please contact one of the SSG deal team members.

Michael Jacoby of Phoenix Management LLC also advised the Company on the transaction.

About SSG Capital Advisors, LLC
SSG is a leading boutique investment banking firm dedicated to representing middle market clients in restructuring and special situations, both in and out of bankruptcy proceedings. SSG provides its clients with comprehensive advisory services in the areas of mergers and acquisitions, financing, financial restructuring and valuation. SSG’s professionals have completed over 150 transactions since 2001 and are leaders in the industry.