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Ares Commercial Finance Has Provided a $40 Million Senior Secured Cross-Border Credit Facility to PlayMonster LLC
July 18, 2022
By Ares Commercial Finance
July 19, 2022 – Ares Commercial Finance announced today that it has provided a cross-border, $40 million senior secured credit facility to PlayMonster LLC. The credit facility consists of an asset based revolving line of credit secured by assets in both the US and UK. Proceeds of the credit facility were used to refinance existing indebtedness and for ongoing working capital to support growth.
About Playmonster LLC (“Playmonster”)
PlayMonster, a leading international toy and game company, believes in the power of play to make a positive difference in people’s lives and strives to keep play alive for all ages by delivering great play value through designing, manufacturing and marketing innovative and fun toys, games and activities. PlayMonster’s diversified portfolio includes popular brands and products such as “TOTY Game of the Year” Yeti in My Spaghetti®, plus THINGS…®, 5 Second Rule®, Relative Insanity®, Farkle, Five Crowns®, Spirograph®, Colorforms, My Fairy Garden®, Fashion Plates®, Latchkits®, Snap Ships®, Koosh® and the recently acquired Ann Williams Group including Loopdedoo®, Craft-tastic®, Craft Crush™ and Sticker & Chill™. For more information about PlayMonster, visit www.playmonster.com.
About Ares Commercial Finance
Ares Commercial Finance (“ACF”) is the asset-based lending team of Ares Management Corporation. ACF is focused on providing credit facilities up to $300 million to middle market and lower-middle market, private and public companies; and addresses a wide scope of industries including manufacturing, distribution, wholesale, retail, and service companies. These facilities include revolving lines of credit and term loans, asset-based and cash flow stretch loans, and asset-backed facilities to specialty finance companies. Leveraging the breadth and experience of the Ares platform, ACF works with borrowers to deliver creative, flexible, and customized financing solutions. These financing solutions may be structured as working capital financing, bridge financing, turnaround financing, acquisition financing, debtor-in-possession financing, and special accommodation financing. For more information about Ares Commercial Finance, visit www.arescommercialfinance.com.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. It seeks to provide flexible capital to support businesses and create value for its stakeholders and within its communities. By collaborating across its investment groups, Ares aims to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2022, Ares Management Corporation's global platform had approximately $325 billion of assets under management, with approximately 2,100 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com. Follow Ares on Twitter @Ares_Management.
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