TSL Express Daily News
The Secured Lender
SFNet's 80th Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
November 19, 2024
Source: Great Rock Capital
Working Capital to Support Increased Demand and Growth
Westport, CT – November 19, 2024 — Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced that they have provided a $50 million exit financing to Basic Fun!, an industry leader in the design, development, and marketing of branded toys and imaginative play products to the retail and family entertainment channels. Popular products include such iconic brands as Care Bears, TONKA Trucks, and K’NEX.
Basic Fun! successfully completed a comprehensive balance sheet restructuring, in which Great Rock provided a $50 million debtor-in-possession financing prior to the closing of the $50 million exit facility. The revolving exit facility will enhance the company’s liquidity and operating flexibility to support strong business demand.
“We very much appreciate Great Rock’s continued support of Basic Fun! as we look to invest in our business organically and through mergers and acquisitions for robust near term and long-term growth,” said Jay Foreman, founder and CEO of Basic Fun!. “We promised the market that this restructuring would be quick, smooth, and a positive event for our partners and the company. Great Rock played an important part in making that so.”
“The Basic Fun! management team worked diligently to complete a strategic restructuring that substantially strengthened its balance sheet and will position the company to capitalize on the increased demand for their products,” said Stuart Armstrong, CEO of Great Rock Capital. “We look forward to working with Jay and his team as they execute on their strategic growth initiatives and accelerate the expansion of the platform.”
Oppenheimer & Co. Inc. served as the exclusive financial advisor for the transaction.
About Great Rock Capital
Great Rock Capital is an asset-focused commercial finance company that specializes in serving the needs of middle market companies across the United States and Canada. The Company provides fast, flexible, and creative financing solutions that maximize liquidity and provide growth capital. The senior secured credit facilities offered by the firm range in size from $10MM to $100MM and include working capital, term-heavy, and term-only loan structures not provided by traditional commercial lenders. The firm has significant capital commitments from its partners, a private equity business and a large institutional investor. To learn more, visit www.greatrockcapital.com.
About Basic Fun, Inc.
Basic Fun! is a dynamic global designer and marketer of classic, innovative children’s entertainment products which strive to bring smiles to people of all ages. The Company has renowned iconic brands and a broad product portfolio that are featured in over 50,000 brick and mortar locations and online retail distribution points by 2,500+ leading retailers, distributors, and family entertainment venues in over 60 countries worldwide. Basic Fun! is dedicated to enriching lives and creating unforgettable moments through imaginative play. Basic Fun!’s global headquarters is located in Boca Raton, FL and also has offices in the UK and Hong Kong. For more information, visit basicfun.com.
Great Rock Capital Contact:
Jenn Cronin
Managing Director, Marketing and Business Development
(203) 557- 6277
cronin@greatrockcapital.com