Republic partners with the golf footwear and apparel company to support its working capital needs for growth in 2024.
LOS ANGELES, March 5, 2024 /PRNewswire-PRWeb/ -- TRUE linkswear sought a long-term financing partner in Republic Business Credit, which understood the footwear and apparel company's e-commerce and wholesale market strategy and could keep up with TRUE's dynamic growth trajectory. Republic provided a sizeable asset-based loan to ensure availability against TRUE's inventory and accounts receivables.
TRUE is a golf footwear and apparel company founded in 2009 by brothers Ryan, Jason and Jeremy Moore. Ryan Moore is a five-time winner on the PGA Tour, and the game of golf has always been part of the family's DNA. They founded the Tacoma, Washington-based company to develop a more modern golf shoe after years of walking courses in uncomfortable footwear. The company has expanded into lifestyle golf footwear and apparel offerings, including their ever popular "Dead Golfer" collection.
TRUE primarily sells through its own e-commerce website but also has partnerships with country clubs and resort pro shops across the country, as well as online sellers like Amazon. Their flagship retail partners include Bandon Dunes, Pebble Beach, Sand Valley, Austad's, and Puetz Golf. In 2024, it will be expanding its relationship with larger retailers such as DICK's Sporting Goods, Scheels and the PGA TOUR Superstore.
Republic's asset-based loan provided TRUE with the working capital to accelerate their growth plans, develop new products and launch partnerships with more retailers. Additionally, Republic worked with TRUE to tailor the offering to fit the company's near and long-term needs, including an accordion option as well as a structured six-month over-advance during the low season to help the company bring in new inventory as orders have already exceeded 110% of 2023 bookings.
A sponsor of TRUE and partner at KarpReilly, Ryan Greene has been a supporter, board member and investor for years. "In Republic, TRUE found a long-term partner that can accelerate their growth with a dynamic debt solution. We are proud to have TRUE in our portfolio of companies and believe this partnership will further support our investment," he said.
TRUE is currently led by CEO, Jason Moore, and backed by private equity fund, KarpReilly, an existing partner of Republic. Moore shared, "Republic was the right partner because of who they are, not just what they do. They share a founder's mindset that allows us to confidently grow our business."
About TRUE linkswear
TRUE crafts naturally comfortable footwear ready to perform from the links to the streets. The company aims to inspire others to achieve camaraderie, wellness, and purpose in the pursuit of par. Born amidst the rugged golf landscapes of the Pacific Northwest and inspired by links courses worldwide, all TRUE gear uses only the finest and responsibly sourced materials to protect golfers from the elements and help them #enjoythewalk. Learn more at http://www.TRUElinkswear.com and engage with us on social at @TRUElinkswear.
About Republic Business Credit
Republic Business Credit is a nationally recognized commercial finance company supporting the working capital requirements of companies nationwide, including private equity and entrepreneurial businesses. Republic provides asset-based lending, ledgered lines of credit, traditional factoring, factoring and Fast AR Funding. Republic partners with its clients to provide up to $15 million in senior credit facilities to rapidly growing businesses, start-ups and companies experiencing recoverable distress. Republic is recognized by the Secured Finance Network as one of the largest finance companies in the United States of America. Republic is proud to be headquartered in New Orleans with additional offices in Chicago, Los Angeles and Houston. Republic is a wholly owned subsidiary of Renasant Bank.
About KarpReilly
KarpReilly is a private investment firm, whose primary mission is to partner with premier small to mid-sized consumer growth companies and help them achieve their long-term vision. KarpReilly currently manages funds and affiliates with capital commitments in excess of $800 million. Over the past 15 years, the principals of KarpReilly have invested in, sat on the boards of and nurtured over 60 growth companies, including Cooper's Hawk, Habit Burger Grill, Hungryroot, Ivy City, Kevita, Spindrift and Stio, among many others. For more information, please visit http://www.karpreilly.com.
Media Contact
Emma Amorose, Republic Business Credit, 412.807.9236, [email protected], republicbc.com
SOURCE Republic Business Credit
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