B. Riley Farber is pleased to have acted as the exclusive financial advisor to obtain $35M in asset-based financing from a non-bank lender for a Canadian manufacturer and distributor of toys and hand sanitizer.
Prior to the COVID-19 pandemic, the toy company (“the Company”) enjoyed 30 years of profitability—this was stalled by the first North American lockdowns. The Company quickly pivoted to producing hand sanitizer products and saw exponential North American growth in these products thanks to their pre-existing and strong customer relationships and distribution network.
The Company required increased cash availability to ensure the working capital required to support this growth. The Company’s leadership worked with B. Riley Farber to source a non-bank asset-based lender who recognized the Company’s potential.