Superior Group of Companies has extended the maturity of its $200 million credit facilities from August 2027 to August 2031. The St. Petersburg company announced the agreement Aug. 11 after closing the transaction four days earlier.
The five-year agreement retains the company’s $125 million revolving credit line and $75 million term loan at their previous sizes. Superior may ask its lenders for another $75 million, although the additional capacity would require new commitments and is not included in the company’s $200 million of committed facilities.
PNC Bank serves as administrative agent for the lending group. Superior used the new facilities to repay approximately $85.25 million under its previous PNC agreement, including about $29 million drawn on the revolving line and $56.25 million in term loans, according to the company’s filing with the Securities and Exchange Commission. Superior paid no penalty for ending the previous agreement early.
Superior said the extended facilities would support its capital-allocation plans and potential growth across its three business segments. Those operations include branded merchandise and uniforms, healthcare apparel and outsourced contact centers.
Branded Products drove the company’s second-quarter revenue increase, generating $98.4 million in sales, up 6.2% from a year earlier, and $11.2 million in adjusted earnings before interest, taxes, depreciation and amortization, up 24.9%. Healthcare Apparel produced $27.2 million in sales, down 3.6%, and recorded a $160,000 adjusted EBITDA loss and a $2.6 million trade-name impairment charge.
Superior finished the quarter with $147.8 million in sales, up 2.6% from the previous year. Net income declined from $1.6 million to $1.2 million, including the effect of the impairment charge, while adjusted net income, which excludes the charge and its tax effect, more than doubled to $3.2 million. The company maintained its full-year sales forecast of $572 million to $585 million, according to its second-quarter results.
Superior had $22.8 million in cash as of June 30. During the first half of 2026, operating cash flow rose from $2.9 million to $17.7 million, and revolver repayments exceeded new borrowings by $9 million.
The new facilities carry a variable interest rate equal to the secured overnight financing rate plus 1.125% to 2.125%, depending on Superior’s leverage. The company must pay a quarterly fee of 0.125% to 0.25% on the unused portion of the revolving line.
Superior pledged substantially all its operating assets as collateral, and its domestic subsidiaries guaranteed the debt. The agreement requires a fixed-charge coverage ratio of at least 1.25-to-1 and caps net leverage at 4-to-1.
Founded in 1920 and headquartered at 200 Central Ave. in St. Petersburg, Superior trades on Nasdaq under the symbol SGC.