MidCap Financial, a commercial finance company focused on middle market transactions, provided a $21.5 million senior secured credit facility to Wilde Brands. The credit facility consists of a revolver with an accordion feature, term loan and delayed draw term loan, with proceeds used to refinance the company’s existing credit facility and provide incremental liquidity to support the ongoing working capital and CapEx, as well as growth of the brand. The facility structure was tailored to align with Wilde’s growth trajectory and to provide the sponsor and management team with the flexibility needed to execute the business plan. Wilde is backed by KarpReilly, a Greenwich, CT-based private equity firm focused on small to mid-sized consumer growth companies.
“From day one, MidCap Financial has been a solutions-oriented and collaborative partner for us which is critical as we continue to scale the brand,” Jason Wright, founder and CEO of Wilde, said. “They understand what we are trying to do here at Wilde and we appreciate them going above and beyond to support our continued growth.”
Garrett Fletcher, head of specialty finance at MidCap Financial, added, “We are excited to support Wilde and KarpReilly in the next phase of growth. Wilde has proven itself to be a pioneer in the protein snack category as the company continues to drive further retail expansion, household penetration and product innovation.”
