Privately owned wholesaler of licensed toys, collectibles, and housewares.
Revenue: $22mm | EBITDA: $2.8mm
The Financing Situation:
The Company needed additional working capital to purchase inventory in advance of the holiday busy season. The Company has a flexible asset-based credit facility from FSW Funding (“FSW”), however, given the seasonality of revenue, the Company’s current accounts receivable balance did not provide sufficient availability to purchase the inventory needed for its busy season.
Super G was able to quickly get comfortable due to historical financial performance, strong management team, and funding into the Company’s busy season. Super G provided a non-dilutive $1.0mm second lien loan behind FSW with repayment structured around seasonal cash flow, which enabled the Company to purchase inventory to meet seasonal demand. The transaction closed in less than two weeks.