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.
