Collectors Holdings closed a $125 million revolving line of credit with a syndicate co-led by J.P. Morgan and KeyBanc Capital Markets, with participation by California Bank & Trust. The facility provides flexibility for Collectors to pursue growth opportunities and execute its strategic vision.
“At Collectors, we have an ambitious vision to serve collectors around the globe,” Jason Harinstein, CFO of Collectors, said. “While our profitable business and cash reserves already give us significant flexibility to invest in new opportunities, such as our brand-new grading facility slated to open in Tokyo, Japan this year, this new credit line will enable us to be even more aggressive when we see opportunities to accelerate the achievement of our vision. We are grateful for the support and confidence in our business.”
“The Collectors team has built a best-in-class business leading the path forward in the collectables segment,” John DeCarlo, executive director, technology and disruptive commerce, middle-market banking and specialized industries at J.P. Morgan, said. “We’re excited to help Collectors execute its strategic initiatives and fuel its next stage of growth.”
“We are excited to strengthen our relationship with Collectors and facilitate its growth to provide customers with access to the leading collectible services provider,” Gerry Barredo, managing director and head of KeyBanc Capital Markets California corporate banking, said.
KeyBanc Capital Markets served as joint lead arranger, joint bookrunner, and syndication agent on this strategic financing transaction.