Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, provided $50 million in debtor-in-possession (DIP) financing to Basic Fun!, a company in the design, development and marketing of branded toys and imaginative play products to the retail and family entertainment channels.
The new money DIP facility will provide the company with liquidity to support its ongoing business operations as it restructures its balance sheet to support future growth.
“We are thrilled to have the backing of Great Rock Capital, which strongly positions Basic Fun! for continued advancement and innovation,” Jay Foreman, founder and CEO of Basic Fun!, said. “This milestone is a testament to our resilience and strategic vision.”
“Basic Fun! is an international industry leader, and we look forward to working with the company as they simplify their capital structure, enabling them to aggressively pursue future growth opportunities,” Stuart Armstrong, CEO of Great Rock Capital, said. “Their innovative designs and unmatched leadership, along with this new capital, will allow them to reach new levels of success.”
Oppenheimer & Co. served as the exclusive financial advisor for the transaction.
