Los Angeles–BCBG Max Azria Group, LLC today announced it received a $135 million cash infusion from Guggenheim Partners, restructured its debt and strengthened its balance sheet, making BCBG Max Azria Group “ideally positioned for future growth.”
Company-founder Max Azria remains chief executive of BCBG Max Azria Group and his wife, Lubov Azria, remains chief creative officer. They retain a meaningful ownership position within the company, alongside the company’s investors, including affiliates and clients of Guggenheim Partners.
“We are very excited about our brands, business and our future prospects,” said Azria, who founded the company in 1989. “We are gratified that investors have given this vote of confidence to our business and our strategic plans.”
Guggenheim Partners has been a major investor in BCBG Max Azria Group since the company was founded in 1989. A Wall Street Journal article in 2013 stated that Buggenheim held about $475 million of BCBG Max Azria’s $685 million of debt and held the company’s first-lien and second-lien term loans.
The companies had been in discussions for a refinancing of debt that would convert the debt into equity and give Guggenheim control of BCBG Max Azria.