Siena Lending Group LLC announces the completion of a three-year $10 million credit facility for Marbles: The Brain Store (“Marbles”) to refinance their existing senior debt and to support their store growth requirements. Marbles is a portfolio company of Amzak Capital Management and the principals of Prentice Capital Management.
Headquartered in Chicago, Illinois, Marbles is a leading retailer with 36 stores of toys, games, gifts, and gadgets in the high growth brain-fitness market. Marbles premise is based on compelling research that playing new games and solving challenging puzzles can help maintain a healthy brain, and that the brain has the ability to adapt and improve at any age. Marbles differentiates itself from other toy retailers by marketing the brain-fitness aspect of its products and having a high touchpoint environment with its customers. Marbles, which has been growing strongly, plans to increase its stores count by 20% in 2016.
David Grende, President and CEO of Siena Lending Group, said, “We are pleased to provide a flexible asset based facility to Marbles that will help support their store and online growth initiatives. We are especially pleased that we were able to complete this transaction in a compressed timeframe of less than 30 calendar days.”
Scot Fischer, Managing Partner of Amzak Capital Management stated, “We are very pleased to partner with Siena Lending Group as our financial lender. The Siena team demonstrated a high level of flexibility on the structure of the transaction and understood the seasonal aspects of our company. They also were able to close the transaction in less than 30 days.”
Siena Lending Group is an independent commercial finance company offering asset based loans between $1 million and $20 million to small and middle-market businesses across the United States. Siena also offers a turn-key servicing platform, which provides an attractive asset based product for community and regional banks that desire improved operating metrics and asset diversification.
Siena’s independence as a finance company allows innovative & flexible solutions, while allowing its customers to maintain a relationship with their own bank. Siena’s management team is experienced, innovative, dependable, entrepreneurial, and highly regarded within the industry. The team has, on average, over 20 years each of experience and has transacted over $12 billion in facilities.
Amzak Capital Management is a private investment firm owned by the Kazma family. Amzak’s current portfolio is comprised primarily of direct equity investments, fixed income securities, and real estate projects. Amzak looks for control and non-control equity positions in growth oriented companies with platform potential. It typically invests $10 to $50 million per transaction.