Great Rock Capital Provides a $50 Million DIP Facility to Basic Fun!

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Aug 06, 2024, 07:55 ET

Liquidity to Support a Leading Children's Entertainment Company

WESTPORT, Conn., Aug. 6, 2024 /PRNewswire/ -- Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced that they have provided $50 million in debtor-in-possession ("DIP") financing to Basic Fun!, an industry leader in the design, development, and marketing of branded toys and imaginative play products to the retail and family entertainment channels. Popular products include such iconic brands as Care Bears, Tonka Trucks, and K'NEX. The new money DIP facility will provide the company with ample liquidity to support their ongoing business operations, as they restructure the company's balance sheet to support future growth.

"We are thrilled to have the backing of Great Rock Capital, which strongly positions Basic Fun! for continued advancement and innovation," said Jay Foreman, founder and CEO of Basic Fun!. "This milestone is a testament to our resilience and strategic vision."

"Basic Fun! is an international industry leader, and we look forward to working with the company as they simplify their capital structure, enabling them to aggressively pursue future growth opportunities," said Stuart Armstrong, CEO of Great Rock Capital. "Their innovative designs and unmatched leadership, along with this new capital, will allow them to reach new levels of success."

Oppenheimer & Co. Inc. served as the exclusive financial advisor for the transaction.

About Great Rock Capital
Great Rock Capital is an asset-focused commercial finance company that specializes in serving the needs of middle market companies across the United States and Canada. The Company provides fast, flexible, and creative financing solutions that maximize liquidity and provide growth capital. The senior secured credit facilities offered by the firm range in size from $10MM to $100MM and include working capital, term-heavy, and term-only loan structures not provided by traditional commercial lenders. The firm has significant capital commitments from its partners, a private equity business and a large institutional investor. To learn more, visit www.greatrockcapital.com.

About Basic Fun, Inc.
Basic Fun! is a dynamic global designer and marketer of classic, innovative children's entertainment products which strive to bring smiles to people of all ages. The Company has renowned iconic brands and a broad product portfolio that are sold by hundreds of leading retailers, distributors, and family entertainment venues in over 60 countries worldwide. Basic Fun! is dedicated to enriching lives and creating unforgettable moments through imaginative play. Basic Fun!'s global headquarters is located in Boca Raton, FL. For more information, visit basicfun.com.

Great Rock Capital Contact:
Jenn Cronin
Managing Director, Marketing and Business Development
(203) 557- 6277
[email protected]

SOURCE Great Rock Capital