Crystal Financial closed a $40 million senior credit facility comprised of a $20 million revolving line of credit and a $20 million term loan for Basic Fun!, a marketer of classic and children’s entertainment products.
Proceeds from the transaction were used to refinance existing debt and to provide the company with the flexibility to continue growing the business.
“We are excited about our partnership with Crystal Financial,” Jay Foreman, founder and CEO of Basic Fun!, said. “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.”
“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,” Kenny Smith, managing director of Crystal Financial, said.
Crystal Financial, a portfolio company of Solar Capital, is a provider of direct private credit focused on originating, underwriting and managing both asset-based and cash flow financings to middle market companies.
