Crown Partners announced the successful arrangement of $82.5 million of senior debt for Signature Brands, LLC (“Signature Brands”), a portfolio company of Traub Capital Partners. The firm served as exclusive financial advisor to Signature Brands in connection with this transaction.
Crown was chosen for its specialized expertise in structuring complex asset-based financing solutions, which it has honed by focusing exclusively on the space for several decades. Crown simultaneously arranged a revolving credit facility and delayed draw cash flow term loan to maximize liquidity generated by the transaction.
Headquartered in Ocala, FL, Signature Brands is the North American leading manufacturer and distributor of dessert decorating products, as well as the leading player in other “celebrations” CPG products. The Company owns and licenses some of the most beloved household brand names – united by their ability to bring families together around special moments – including the iconic Betty Crocker brand, the PAAS Easter Egg brand, Pumpkin Masters, GiftPOP and Brand Castle.
“The Crown team were absolute experts in the process of obtaining an asset-based loan. Everything that they told us was going to happen, happened. Their incredible knowledge of the asset-based lending market, and their deal team’s ability to quarterback all aspects of the transaction, provided a significant amount of value to the Signature Brands business,” said Michael Stanley, Traub Capital Partners.
“Crown was instrumental in getting this deal to the finish line. They took an incredibly strategic approach, anticipating and navigating significant hurdles throughout the process to ensure major milestones were met. Their ability to run a meticulous process and leverage their strong existing relationships with multiple ABL lenders put us in a great position to carefully choose the best partner for our company. On a very complex transaction, from start to finish, this process took 3 months, all due to the relentless efforts of the Crown team,” said Kourtney Corcoran, Chief Financial Officer, Signature Brands.