Los Angeles, CA, January 14, 2015
PRNewswire-- Breakaway Capital Partners Fund, L.P. today announced that it has funded a $6 million senior secured credit facility and equity co-investment to finance Next Point Capital's recapitalization of Art Brand Studios, LLC.
Art Brand Studios is the owner of the Thomas Kinkade Company which holds the exclusive license to sub-license and publish artwork created by or inspired by the late Thomas Kinkade. Mr. Kinkade is one of the most commercially successful artists in history and is considered by many to be the most recognized art brand in America. Pursuant to a license from the Walt Disney Company, the company also publishes Thomas Kinkade-inspired, Disney-themed art. The company's licensees include Hallmark Cards (greeting cards), Bradford Exchange (collectibles), AMU (calendars) and CEACO (puzzles).
"We are excited to have Breakaway Capital as our financing partner. Breakaway's ability to be creative, flexible and close quickly was a tremendous benefit to us," said Mark Mickelson, Managing Partner of Next...