Done Deal: Paladone

Expanding Horizons

 

Innovex Downhole Solutions

a portfolio company of

LDC

£15,000,000

Revolving Line of Credit & Term Loan

Gifting Products

Financing Event: Acquistion
PNC Deal Leader: Jason Zillwood

The Company: Gifted Leadership

Headquartered on the South Coast, Paladone is a leading UK provider of gifting products, designing and distributing from its offices in the UK, Hong Kong and Los Angeles.

The company has a catalogue of over 800 products, encompassing own brand lines and licensed products with leading global brands such as Walt Disney, Warner Brothers, Star Wars and Nintendo.

The Deal: Fit for Purpose

Paladone needed fit-for-purpose finance that would support the acquisition by LDC and deliver the working capital headroom necessary for its trajectory. Working closely with Spectrum Corporate Finance, PNC delivered a senior secured facility to a tight timescale, comprising a revolving line of credit structured against working capital assets and a term loan.

The Achievement: Expanding Horizons

Paladone is now fully equipped to continue its strong international growth, pursuing opportunities in the U.S., Australia, Asia and Europe, as well as continuing to invest in its online presence.

PNC were proactive and commercial throughout. They provided quick decision-making and a clear offer, delivering a facility at speed designed to fuel our continued international expansion.

Steve Fleming | Finance Director

Important Legal Disclosures & Information

*A portion of the funding provided by Steel City Capital Funding, a division of PNC Bank. Steel City Capital Funding provides Cash flow-based senior debt, junior secured and second lien loans for sponsored and non-sponsored transactions. 

Neither PNC Financial Services UK Ltd. nor PNC Bank Canada Branch provides legal, tax or accounting advice.

Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.

©2020 The PNC Financial Services Group, Inc. All Rights Reserved.