Founder and CEO Anastasia Soare has invested $225 million of her personal cash into Anastasia Beverly Hills following the exit of personal fairness agency TPG from a big portion of its stake within the firm earlier this month.
The recapitalization transaction offers the model “greater financial flexibility” in an “uncertain market environment,” in response to an announcement by Soare within the launch saying her funding.
The funding additionally considerably reduces the corporate’s debt, in response to the discharge. Anastasia Beverly Hills was downgraded by Standard & Poor Global Ratings to a “D” in August attributable to a missed fee. Earlier this month, Bloomberg reported that TPG had taken a loss on a $600 million funding within the model as a part of a debt restructuring deal, reportedly bringing its stake down from 38 p.c to six p.c.
Soare will stay the CEO and majority proprietor of the corporate, and said it has “continued strong support from our long-term lenders.”
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