Hobbico, a Champaign, Illinois-based distributor of radio-control (R/C) models and general hobby products, received a second debt investment from Cyprium Partners.
This was Cyprium’s second investment in Hobbico since 2010 and was made out of its Cyprium Investors IV fund. The amount of the deal was not disclosed.
The company used the capital to refinance existing indebtedness and to fund its ongoing growth.
Founded in 1971, Hobbico is a distributor of radio-control (R/C) models and general hobby products. The company sells more than 60,000 products through three divisions targeting retail, wholesale and mass market channels. Since Cyprium’s original investment in Hobbico in 2010, the company has acquired Revell Germany, Axial and ARRMA Durango.
FinSMEs
15/10/2014