An entity affiliated with Centre Lane Partners completed the acquisition of the appliances division of Instant Brands, which filed for Chapter 11 bankruptcy protection in June. MidCap Financial provided financing to support the transaction.
Founded in 2009 and headquartered in Downers Grove, IL, Instant Brands Appliances designs, manufactures and markets a global portfolio of consumer lifestyle brands, including the Instant Pot.
“We are delighted to be affiliated with such strong brands,” Quinn Morgan, managing director of Centre Lane Partners, said.
“Instant Brands Appliances is well positioned to benefit from our CLP-VCF and we look forward to working with the company to bring innovation to the kitchen appliances segment as we evolve and grow the company’s product assortment,” Mayank Singh, managing director of Centre Lane Partners, said.
Jones Day advised Centre Lane Partners on this transaction.