Ross-Simons Hires Signet Vet As CMO
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Ross-Simons, America s Favorite Jeweler, adds veteran Chief Marketing Officer
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Citizens Provides $30MM Asset-Based Revolving Line of Credit to Ross-Simons
December 23, 2020, 09:00 AM
Citizens announced today that it has provided a new $30 million asset-based revolving line of credit to Cranston, R.I. based Ross-Simons, a leader in direct-to-consumer sales, specializing in offering unique and proprietary fine jewelry designs alongside a deep selection of classics such as diamond tennis bracelets and gold necklaces. Citizens is the Administrative Agent, Sole Lead Arranger and Sole Bookrunner.
Ross-Simons reaches consumers through a company-operated website, catalog, and its flagship retail store in Warwick, R.I. The company offers a wide selection of fine jewelry across a range of price points and is known for mixing materials and colors in unexpected combinations. The company was acquired earlier this month by Nonantum Capital Partners.
Citizens issues $30M line of credit to Ross-Simons following acquisition
CRANSTON-BASED jewelry retailer Ross-Simons was recently provided a $30 million revolving line of credit by Citizens Financial Group. / COURTESY ROSS-SIMONS PROVIDENCE – Citizens Financial Group Inc. on Tuesday announced a $30 million loan to Ross-Simons Inc. as part of an acquisition deal reached earlier this month. The $30 million, asset-based revolving line of credit will allow the Cranston-based jeweler to purchase new inventory and maintain day-to-day operations, Jim Speltz, Ross-Simons president and CEO, told Providence…
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