Siena Lending Group LLC announces the completion of a three-year $10 million credit facility for Marbles: The Brain Store (“Marbles”) to refinance their existing senior debt and to support their store growth requirements. Marbles is a portfolio company of Amzak Capital Management and the principals of Prentice Capital Management.
Headquartered in Chicago, Illinois, Marbles is a leading retailer with 36 stores of toys, games, gifts, and gadgets in the high growth brain-fitness market. Marbles premise is based on compelling research that playing new games and solving challenging puzzles can help maintain a healthy brain, and that the brain has the ability to adapt and improve at any age. Marbles differentiates itself from other toy retailers by marketing the brain-fitness aspect of its products and having a high touchpoint environment with its customers. Marbles, which has been growing strongly, plans to increase its stores count by 20% in 2016.
David Grende, President and CEO of Siena Lending Group, said, “We are pleased to provide a flexible asset based facility to Marbles that will help support their store and online growth initiatives. We are especially pleased that we were able to complete this transaction in a compressed timeframe of less than 30 calendar days.”
Scot Fischer, Managing Partner of Amzak Capital Management, stated, “We are very pleased to partner with Siena Lending Group as our financial lender. The Siena team demonstrated a high level of flexibility on the structure of the transaction and understood the seasonal aspects of our company. They also were able to close the transaction in less than 30 days.”