BOSTON--(BUSINESS WIRE)--Crystal Financial LLC announced the closing of a $40,000,000 Senior Credit Facility comprised of a $20,000,000 Revolving Line of Credit and a $20,000,000 Term Loan for Basic Fun! (“the Company”).
Proceeds from the transaction were used refinance existing debt and provide the Company with enhanced flexibility to continue growing the business.
“We are excited about our partnership with Crystal Financial,” said Jay Foreman, Founder and CEO of Basic Fun!. “Crystal worked collaboratively with our team to provide a credit facility that met the needs of our business. Their commitment to understanding our business, coupled with their deep experience in consumer products, was instrumental in our decision to choose them as the lender we moved forward with.”
Kenny Smith, Managing Director of Crystal Financial added, “It was a pleasure to work with the highly experienced and accomplished management team at Basic Fun!. The Company has done an excellent job navigating a challenging 2020 and is well positioned for growth. We look forward to being their financing partner for years to come.”
About Crystal Financial LLC
Crystal Financial LLC, a portfolio company of Solar Capital Ltd., is a leading provider of direct private credit focused on originating, underwriting, and managing both asset-based and cash flow financings to middle-market companies. Since inception in 2006, its team of experienced, responsive professionals have provided more than $4 billion in secured debt commitments across a wide range of industries. For more information, please visit www.crystalfinco.com.
About Basic Fun!
Basic Fun! is a dynamic global marketer of classic and innovative children's entertainment products for today's kids. The company plays in many core toy categories including classic heritage toys, novelty collectibles, building toys, youth electronics, plush, vehicles, dolls and activity/discovery. Basic Fun!'s key brands include: Tonka, K'NEX, Lite-Brite, Fisher Price Classics, Care Bears, Mash'ems, Cutetitos, Playhut, Ant Farm, Arcade Classics and many more! For more information, please visit basicfun.com. Facebook, Twitter and Instagram @BasicFunToys, #BasicFunToys