SLR Business Credit funded a $20 million credit facility for Tastemakers, a manufacturer in the gaming industry. This financial support is aimed at bolstering the company’s working capital.
The credit facility, structured as a $20 million accounts receivable facility, was executed in partnership with the equity holders and management to meet the needs of the company, which has been facing changes in working capital needs.
“We are excited to join the SLR family, and we plan to use this facility to support our customer credit needs,” Dora Dvir, interim CEO and chief financial officer of Tastemakers, said. “Finding the right solution was a project that we were very thoughtful about since the customers and their support are key to our success. With the ever-changing retail landscape, SLR stepped up and created a solution that really answers our business needs. Not to mention, this will allow us to get back to making video games.”
“Our biggest concern is meeting the company’s needs while also being able to balance our requirements,” Dan Tortoriello, executive vice president and chief operating officer of SLR Business Credit, said. “We were able to do this with this transaction when others could not. This was done in collaboration with Erica Galano, principal at SLR Capital Partners. The combined effort resulted in a creative solution to meet the company’s current and anticipated needs. We look forward to a mutually beneficial relationship.”
