Chicago-based private equity firm, Sterling Partners, tapped Republic Business Credit to help support the continued growth of one of Sterling’s portfolio companies, Fancy Sprinkles. Republic provided an e-commerce asset-based line of credit that helped the company prepare for its national rollout with one of its largest retailers, while supporting its overall online growth strategy.
Fancy Sprinkles is an edible arts company.
The asset-based loan Republic provided had an accordion feature of up to $6 million, which leveraged Fancy Sprinkles’ inventory and receivables across its e-commerce and wholesale business. Fancy Sprinkles is experiencing rapid growth with key retailers and sought a scalable working capital facility to expand inventory ahead of its upcoming national rollout.
“We are thankful for Republic’s support and believe this partnership will generate continued success for Fancy Sprinkles,” Steven Taslitz, chairman and co-founder of Fancy Sprinkles, said.
“This partnership will enable Fancy Sprinkles to grow its brand and manage rising demand,” Courtney Altman, vice president of Fancy Sprinkles, said.
“We appreciate the line of credit extended by Republic and are confident that this newfound relationship will help us to reach new goals and milestones as a company,” Kiley Anderson, CEO of Fancy Sprinkles, said.
“It was exciting to close this first deal with Sterling Partners, especially given their incredible reputation investing across the consumer-packaged goods industry, of which we continue to build an incredible portfolio of brands,” Eric Dorner, vice president of business development at Republic, said.
