The Canadian producer behind The Snoopy Show, Strawberry Shortcake: Berry in the Big City, Sonic Prime and Teletubbies Let’s Go! has set up a new five-year credit financing arrangement worth US$415 million. 

Working with a number of private lenders including Sagard and Comvest Credit Partners (who served as co-lead arrangers and bookrunners), WildBrain will get a US$375-million term loan and a US$40-million revolving credit facility. In addition, US$5.25 million and the proceeds of the company’s working capital have been earmarked to repay existing loans and debt starting this month.

Josh Scherba, WildBrain’s president and CEO, emphasized that the financing infusion will allow the company to meet its existing obligations, while giving it enough runway to plan its future.  “Sagard is a leader in private credit, and we are pleased that they recognize the value of our business and the inherent opportunity for growth presented by our offering.” The company’s current growth strategy is focused on key franchises and partnerships, says Scherba.

In a statement, Safard chief investment officer Adam Vigna said: “We are pleased to provide a tailored private credit solution which extends WildBrain’s maturity profile and which we believe will enable the company to execute on its strategic vision.”

In its Q3 2024 financial statement, which was issued on May 9, WildBrain reported a net loss of US$10.6 million, compared to US$14.1 million in net income in Q3 2023. Quarterly revenue was also lower, coming in at just over US$72 million this year versus US$102 million in Q3 2023. And WildBrain’s adjusted third-quarter EBITDA dropped from US$23.9 million last year to US$14.2 million this year.