SAN JOSE, Calif.--(BUSINESS WIRE)--
Avidbank Specialty Finance, a Division of Avidbank that specializes in
technology, sponsor finance and asset-based lending, has provided a
combined $5 million in a line of credit and term loan to Art Brand
Studios (“ABS”).
Founded in 2016 and headquartered in Morgan Hill, California, ABS is a
leading publisher, manufacturer, marketer, wholesaler and branded
retailer of fine art reproductions. The facilities provided by Avidbank
were put in place to provide working capital, support growth, refinance
existing debt, and repurchase investor warrants.
ABS is owned by Art Brand Investor, LLC, which is 100% owned by M2
Investment Management, LLC. Next Point Capital Corporation manages M2
Investment Management.
“We are very pleased to partner with Next Point Capital and Art Brand
Studios, and greatly appreciate the confidence they exhibited in
Avidbank,” said Darryl Karmen, Senior Vice President, Regional Manager,
Avidbank Specialty Finance. “Our financing will allow our new client to
enter their next phase of growth and further expand their footprint. We
look forward to seeing Art Brand build on their success.”
“We are excited to collaborate with Avidbank as we grow our portfolio
company, Art Brand Studios,” added Mark Mickelson, Managing Partner,
Next Point Capital. “We value the expertise, creativity and integrity
offered by Avidbank’s management and we look forward to partnering with
them again in the future.”
About Avidbank
Avidbank Holdings, Inc. (OTC Pink: AVBH), headquartered in San Jose,
California, offers innovative financial solutions and services. We
specialize in commercial & industrial lending, technology and
asset-based lending, specialty finance, real estate construction and
commercial real estate lending. Avidbank provides a different approach
to banking. We do what we say.
About Art Brand Studios
Art Brand Studios is a leading publisher of branded art programs in
both Limited and Open Edition. Art Brand Studios is committed to growing
artists’ brands with quality and integrity through corporate and
independently owned galleries worldwide, strategic art licenses with
Disney and DC Comics, licensing relationships with more than 70
licensees such as Hallmark and Bradford Exchange, and cross-channel
marketing that includes everything from web to print to event management
and targeted multimedia campaigns. For more information, visit www.artbrandstudios.com.
About Next Point Capital
Next Point Capital Corporation is a private equity firm focused on
leveraged buyouts in the lower middle market.We, mostly, partner
with existing management teams and compliment their skills with our
resources in accounting, finance, IT, risk assessment, strategy and
operations.Our team has many years of experience working with
several small companies in entrepreneurial and resource-constrained
environments. To learn more, visit www.nextpointcapital.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180308005361/en/
Avidbank Holdings, Inc.
Steve Leen, 408-831-5653
Chief
Financial Officer
www.avidbank.com
Source: Avidbank Holdings, Inc.