Cole Taylor Business Capital announced it recently provided a $9 million senior credit facility to Minnetonka, MN-based Halo Innovations. The facility was used to enable a recapitalization of the company, to provide working capital for a new product roll out, and for additional ongoing working capital needs.
Founded over 20 years ago by a SIDS father, Halo Innovations is dedicated to developing infant health and wellness products intended to set new standards for the safety and improved health of sleeping infants and bring peace of mind to parents.
The market leading Halo® SleepSack™ wearable blanket is used by more than 1,400 hospital nurseries and millions of parents to provide a safe crib environment for their baby. The company’s new award winning Halo Bassinest™ Swivel Sleeper is rolling out nationally this summer.
Balance Point Capital Partners, a Westport, CT-based private equity fund, provided mezzanine debt and preferred equity to Halo Innovations in support of the recapitalization.
Mike Sharkey, president of Cole Taylor Business Capital says, “We are very good at helping many companies achieve their financial goals, but we especially like it when we can help our customers achieve their life-long dreams. With the recent funding to Halo Innovations the company is able to continue to bring innovative and beneficial products to the market.”