ORIX Leveraged Finance announced the closing of a debt facility with Sprinkles Cupcakes. The debt facility supports an investment in Sprinkles by KarpReilly and will provide for the company’s future growth initiatives. ORIX Leveraged Finance served as lead arranger, administrative agent and sole lender.

Founded by Candace and Charles Nelson and headquartered in Beverly Hills, CA, Sprinkles owns and operates eleven cupcake bakeries, with plans to add a number of additional locations in both new and existing markets. Over the past year, the company also has successfully introduced its new Sprinkles Ice Cream offering and entered into its first international franchising agreement, both of which are expected to be significant drivers of growth for the brand over the coming years.

John Lenocker, co-head of ORIX Leveraged Finance, said, "We’re excited to team up with KarpReilly, a leading financial sponsor with significant growth company expertise, and Candace and Charles Nelson, experienced entrepreneurs poised to continue the success of Sprinkles. We look forward to supporting this great team and brand through the next phase of growth.”

“ORIX Leveraged Finance was responsive in working with us to develop a flexible structure that will enable Sprinkles to take advantage of the many opportunities available to the brand,” said Allan Karp, founder, KarpReilly.

ORIX Leveraged Finance, a business unit of ORIX USA Corporation, provides debt and equity capital to well-managed small and mid-sized businesses in all industry sectors throughout the United States.

KarpReilly, LLC is a private investment firm, founded by Allan Karp and Chris Reilly, whose primary mission is to partner with premier small to mid-size growth companies and help them achieve their long-term vision.

Sprinkles Cupcakes opened "the world's first cupcake bakery" in Beverly Hills, as reported by the Food Network, and is credited by the Los Angeles Times as "the progenitor of the haute cupcake craze."