Investment bank Crown Partners arranged $82.5 million of senior debt for Signature Brands, a portfolio company of Traub Capital Partners. Crown Partners served as exclusive financial advisor to Signature Brands in connection with this transaction. Crown Partners simultaneously arranged a revolving credit facility and delayed-draw cash flow term loan to maximize liquidity generated by the transaction.
Headquartered in Ocala, FL, Signature Brands is a North American manufacturer and distributor of dessert decorating products and other “celebrations” CPG products. The company owns and licenses brand names including Betty Crocker, PAAS Easter Eggs, Pumpkin Masters, GiftPOP and Brand Castle.
“The Crown team were absolute experts in the process of obtaining an asset-based loan. Everything that they told us was going to happen, happened,” Michael Stanley, a managing director at Traub Capital Partners, said. “Their incredible knowledge of the asset-based lending market and their deal team’s ability to quarterback all aspects of the transaction provided a significant amount of value to the Signature Brands business.”
“Crown was instrumental in getting this deal to the finish line. They took an incredibly strategic approach, anticipating and navigating significant hurdles throughout the process to ensure major milestones were met,” Kourtney Corcoran, CFO of Signature Brands, said. “Their ability to run a meticulous process and leverage their strong existing relationships with multiple ABL lenders put us in a great position to carefully choose the best partner for our company. On a very complex transaction, from start to finish, this process took three months, all due to the relentless efforts of the Crown team.”
