ORIX Leveraged Finance announced today the closing of a debt facility with Sprinkles Cupcakes. The debt facility supports an investment in Sprinkles by KarpReilly, LLC and will provide for the company’s future growth initiatives. ORIX Leveraged Finance served as lead arranger, administrative agent and sole lender.
Founded by Candace and Charles Nelson and headquartered in Beverly Hills, CA, Sprinkles owns and operates eleven cupcake bakeries, with plans to add a number of additional locations in both new and existing markets. Over the past year, the company also has successfully introduced its new Sprinkles Ice Cream offering and entered into its first international franchising agreement, both of which are expected to be significant drivers of growth for the brand over the coming years.
The financing facility underscores the commitment of ORIX Leveraged Finance to provide acquisition and growth capital to well-managed privately held companies that offer a compelling product or service, and possess long-term franchise value.
John Lenocker, co-head of ORIX Leveraged Finance, said, “We’re excited to team up with KarpReilly, a leading financial sponsor with significant growth company expertise, and Candace and Charles Nelson, experienced entrepreneurs poised to continue the success of Sprinkles. We look forward to supporting this great team and brand through the next phase of growth.”