Starco Brands (STCB), which has five brands under one company umbrella, has been actively expanding its offerings by inventing and acquiring behavior-changing brands and technologies, including Soylent Nutrition, Skylar Body, Art of Sport, Whipshots, and Winona.
Known for inventing behavior-changing products and technologies and successfully driving brand awareness and demand, the company sought a lender to support significant growth and plans to realize efficiencies across its portfolio as it continues impressive growth trends.
Gibraltar Business Capital (“GBC”) forged a strategic partnership with Starco Brands, providing a $12.5MM ABL facility. This flexible solution adapts to Starco Brands’ growth supply chain, inventory needs, and unique experiential marketing playbook.
Proceeds from the $12.5MM credit facility will be used to refinance a bank loan, repay a considerable amount of related party sub debt, and provide substantial dry powder to support Starco Brands’ growth plan for the near and long term.
“Our team was quickly impressed by GBC’s fresh approach to lending. Gibraltar delivered a creative vision, was a true partner during the entire financing process, and diligently maximized value for our company. This approach will absolutely support our growth capital needs,” said Ross Sklar, Starco CEO.
GBC’s team was initially introduced to the company through national relationships across our business development team, leaving a positive first impression backed by numerous partner recommendations. The credit team then worked to deliver the most flexible, creative structure to satisfy GBC’s brand promises of confident, certain, and innovative capital delivery.
“After performing diligence on Starco Brands’ impressive model, our team worked creatively to maximize borrowing availability. This transaction underscores the strength of our industry expertise, partnerships, and the team’s ability to create meaningful relationships,” said Jim Marasco, Head of Originations at Gibraltar Business Capital.
