Alternative lender to mid-sized businesses, ThinCats, has supported the largest independently-owned greetings card publisher in the UK, Carte Blanche Greetings (CBG), with £2.3m CBILS funding to provide working capital.
Founded in 1987 with a range of just 12 cards, Carte Blanche Greetings is now an award-winning creator, distributor and licensor of character-branded products, with a portfolio of some of the best-known and most-loved brands on the high street created by its talented in house team.
The most widely recognised brand is Me to You, with signature character Tatty Teddy, which in 2020 celebrated 25 years of sharing the moments that matter. With a product portfolio covering greetings cards, toys, giftware, apparel, confectionery, nursery and homeware, Me to You products can be found in 110 markets globally and in 9000 retailer rooftops in the UK alone.
The Leeds-based team at Mazars LLP of Alex Baskeyfield and Arran Smedley advised the shareholders of CBG on the working capital fundraise. The Company sought to replace its existing blend of ABL facility and clearing bank funding, who were unable to meet their requirements in the run up to Christmas, with one simple debt backed facility.
Arran Smedley, Manager, Mazars said: “It has shown that with the right opportunity the appetite for lending is still present in the marketplace. Credit goes to both the Rob and Ben for being open and transparent allowing for a quick and smooth transaction for all parties. It is now an exciting time for CBG as they look to use this investment to generate growth over the coming years.”
Rob Edgerton, CFO, CBG commented: “Working with the teams at ThinCats and Mazars has significantly smoothed the process of applying for CBILS funding for us, enabling us to continue developing our offering and planning for the critical Christmas season and beyond.”
Ben Kimball, Regional Business Director, ThinCats said: “We are very pleased to have been able to fund Rob and the team at CBG through the CBIL Scheme; it was really rewarding to be able to provide a bespoke package to meet their unique funding needs in time for their busiest period of the year.”