SLR Business Credit Provides $20 Million Line of Credit to Tastemakers LLC, the Creators of Arcade1Up, the 4th Largest Brand in Gaming
SLR Business Credit LLC (“SLR Business Credit”) is pleased to announce the funding of a $20 million credit facility for a leading manufacturer in the gaming industry, Tastemakers LLC. Tastemakers has licensing agreements and development deals with iconic retro arcade games and manufactures cabinets, bringing gaming to homes around the world. This financial support is aimed at bolstering the company’s working capital.
The credit facility, structured as a $20 million Accounts Receivable Facility, was executed in partnership with the equity holders and management to meet the needs of the company, which has been facing changes in working capital needs.
“Our biggest concern is meeting the company’s needs while also being able to balance our requirements,” said Dan Tortoriello, EVP and COO of SLR Business Credit. “We were able to do this with this transaction when others could not. This was done in collaboration with Erica Galano, Principal at SLR Capital Partners. The combined effort resulted in a creative solution to meet the company’s current and anticipated needs. We look forward to a mutually beneficial relationship.”
Dora Dvir, Interim CEO and CFO of Tastemakers, commented, “We are excited to join the SLR family, and we plan to use this facility to support our customer credit needs. Finding the right solution was a project that we were very thoughtful about since the customers and their support are key to our success. With the ever-changing retail landscape, SLR stepped up and created a solution that really answers our business needs. Not to mention, this will allow us to get back to making video games!”
About Tastemakers LLC
Tastemakers manufactures and sells arcade machines for at-home use. You can find their products at various retailers such as Costco, Best Buy, and Amazon, as well as the Arcade1Up website.
SLR Business Credit has extensive experience financing manufacturing companies.