SEATTLE--(EON: Enhanced Online News)--Rauch Industries (the “Company” or “Rauch”), an affiliate of Blackstreet Capital Management, LLC (“BCM”), has entered into a new $6 million revolving line of credit loan agreement with Key Bank. BCM is led by Managing Partner, Murry Gunty.
“We are looking forward to a productive and long-term partnership with Key Bank.”
Rauch, headquartered in Seattle, Washington, began as a family business in 1952. Its products include ornamental glass balls, tree skirts, and stockings. The company designs and distributes its leading products under the Rauch, Shiny Brite, Christopher Radko and Celebrations by Radko brands and distributes through mass retailers, department stores and independent gift retailers nationwide.
“This new line of credit will allow us to continue to grow both organically and through acquisition,” said Heather Shepardson, CEO of Rauch. “We are looking forward to a productive and long-term partnership with Key Bank.”
"The veteran Rauch management team, led by Heather Shepardson, has done a fantastic job building the business," said Murry Gunty, BCM Managing Partner. “This financing will further strengthen Rauch’s balance sheet and allow them to expand and continue to provide great and meaningful products to customers.”
About Blackstreet Capital
Blackstreet Capital is a Chevy Chase, Maryland-based private equity firm. Blackstreet Capital focuses on investments in under-performing orphans with up to $150 million of revenue primarily located in the eastern half of the United States. To date, Blackstreet Capital has invested in 40 companies with combined sales in excess of $1.5 billion with over 8,000 employees.
Rauch began as a family business in 1952. Its products which include ornamental glass balls, tree skirts, stockings and more, have decorated homes for more than half a century. Today, the Rauch brand is a market leader in the holiday giftware and seasonal goods industries. The company designs and distributes its leading products under the Rauch, Christopher Radko® and Celebrations by Radko™ brands and distributes through mass retailers, department stores and independent gift retailers nationwide. Rauch’s corporate headquarters and distribution center is located in Gastonia, North Carolina. For more information about the company, feel free to call (800) 71-RADKO or send an email to RadkoElves@ChristopherRadko.com