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PSA, Goldin parent company adds $125M in funding
Collectors Holdings, Inc., the parent company of PSA and Goldin Co., has picked up a $125M revolving line of credit to help with its expansion efforts.
The line of credit was secured with a syndicate co-led by J.P. Morgan and KeyBanc Capital Markets Inc., with participation by California Bank & Trust.
The move further strengthens Collectors’ position in the sports collectibles market, providing it with greater flexibility to pursue new growth opportunities and execute its strategic vision.
“At Collectors, we have an ambitious vision to serve collectors around the globe,” said CEO Jason Harinstein. “While our profitable business and cash reserves already give us significant flexibility to invest in new opportunities, such as our brand new grading facility slated to open in Tokyo, Japan this year, this new credit line will enable us to be even more aggressive when we see opportunities to accelerate the achievement of our vision. We are grateful for the support and confidence in our business.”
“The Collectors team has built a best-in-class business leading the path forward in the collectables segment,” said John DeCarlo, executive director, Technology & Disruptive Commerce, Middle Market Banking & Specialized Industries at J.P. Morgan. “We’re excited to help Collectors execute its strategic initiatives and fuel its next stage of growth.”
“We are excited to strengthen our relationship with Collectors and facilitate its growth to provide customers with access to the leading collectible services provider,” said Gerry Barredo, managing director and head of KeyBanc Capital Markets California Corporate Banking. “KeyBanc Capital Markets Inc. served as Joint Lead Arranger, Joint Bookrunner, and Syndication Agent on this strategic financing transaction.”
Collectors and PSA has offices in Los Angeles, New York, Seattle, Hong Kong, Shanghai, Tokyo and Paris. It also owns PCGS (coins and currency) and WATA (video games and pop culture) grading companies as well as online collectibles marketplace and auction house Goldin.
