Asset based lending helps Merino acquire Tobar Group
Security may be required and product fees may apply. Subject to eligibility requirements
Tobar is a toy and gift retailer and wholesaler. Its retail operation has a website, 30 permanent stores and a number of seasonal shops. These trade under the name of Hawkin's Bazaar. Its wholesale arm operates nationally and internationally.
What did they want to achieve?
For the next stage of its growth, Tobar wanted to be acquired by Merino Private Equity.
How we helped
We provided Merino with an asset based lending facility to facilitate its acquistion of the Tobar Group. This gave Merino access to working capital which helped support the transaction. It will also help with the expansion of Tobar's product lines and growth plans.
We are thrilled to be partnering with Merino Private Equity for our next stage of growth. We have high aspirations for the future.
David Mordecai, Chief Executive of Tobar Group
The funding from the asset based lending team has played a key part in the transaction. We've been impressed with the team’s support.
Mark Colley, MD of Merino Private Equity
The asset based lending facility will support Tobar's expansion because funding can be increased as the business grows.
Oliver Sutton, Business Development Director, asset based lending