ITASCA, Ill.--()--Thomas G. Bowles, CEO of Enesco, LLC (Enesco), the leading global designer, producer and marketer of branded giftware, home decor and plush toys, announced the completion of a new $82 million senior bank facility led by JPMorgan Chase Bank, N.A. This new facility, made possible by Enesco's strong financial performance in 2011 and 2012 year-to-date, will provide the company with more working capital flexibility and the liquidity to fuel future growth.
?Given the company's recent accomplishments, the timing was right to refinance?
"Given the company's recent accomplishments, the timing was right to refinance," Bowles said. "We are delighted with the financial flexibility this gives the company."
"The new credit facility is a tangible recognition of the progress made by our entire Enesco team and the success of the individual brands," Bowles continued. "This will allow the company to focus on growing the business, implementing our aggressive go-to-market strategies and leveraging opportunities in the marketplace."
Enesco is majority owned by Tinicum Capital Partners II, L.P., a private investment partnership based in New York. Tinicum Capital Partners has committed intensive financial and strategic resources to the business over the past five years.
"We have worked closely with the management team over the past several years, providing operational and strategic guidance," said Bob Kelly, a partner at Tinicum. "By building a strong team, creating market right, innovative products and nurturing the companies great brands, all the while controlling expenses, reducing inventories, enhancing margins and now adding this new credit facility, the company is on a solid footing for substantial future growth."
Enesco, LLC is a global leader in the giftware and home and garden d?cor industries serving more than 30,000 customers worldwide. Enesco's products include some of the world's most recognizable brands in its trading space including: Department 56 Villages, Gund Teddy Bears, Jim Shore's Disney Traditions, The Grinch, Disney, Peanuts, Dr. Seuss, Snowbabies, Possible Dreams, Sesame Street, Boyd's Bears, Ugly Dolls and many others. Enesco distributes its products to a wide variety of specialty card and gift retailers, home d?cor boutiques, department stores, as well as large national chains and direct mail retailers. For more information, visit www.Enesco.com.