Horizon Group USA inked a $25 million term-loan facility brokered by the commercial banking division of Santander Bank.
The New Jersey-based craft and toy company designs, manufactures, and distributes a wide variety of kits across several categories, including DIY, STEM/STEAM, outdoors, and tween. Horizon products are carried by major retailers like Walmart, Target, Amazon, Michaels, and Costco. The new deal is intended to assist Horizon in growing its business.
“Since beginning our relationship with Santander in 2014, we’ve relied on the team to provide sound advice and innovative solutions to help us meet our financial goals,” says Jeff Snyderman, executive vice president and chief financial officer of Horizon Group. “This term-loan facility will enable Horizon Group to further invest in and scale our business.”
“The collaboration between the asset-based lending, middle-market, and capital markets groups, as well as key ancillary platforms, including derivatives and cash management, exemplifies our ability to support our clients’ needs by focusing on integrated corporate finance solutions rather than individual products and services,” says Paul Cronin, head of asset-based lending at Santander Bank. “We look forward to supporting Horizon Group’s continued successes by always understanding the client’s needs, leveraging our offerings and providing prudent advice.”