NEW YORK, April 17, 2023 /PRNewswire/ — Corinthian Capital Management, LLC an affiliate of Corinthian Capital Group, LLC, (“Corinthian”), a middle market private equity firm founded in 2005, has announced the closing of the acquisition of Ultimate Toys Inc. (“Ultimate Toys” or the Company).
Ultimate Toys, headquartered in the Cincinnati, OH metropolitan area, is one of the fastest growing designers and marketers of Class B RV luxury vehicles in the U.S. Founded in 2017 by a successful entrepreneur and avid business and family traveler, Ultimate Toys was developed to create a solution for the market need of functionality and utility for different use cases. The father and son leadership team of Gary and Josh Green grew the business into the ultimate solution. Ultimate Toys’ luxury conversion vehicles and teardrop trailers are designed to facilitate premium excursion experiences and transform the way people interact and experience luxury road travel. Ultimate Toys’ multi-functional floor plans and designs are brimming with high-end amenities and features that allow for almost any purpose: family vacations, tailgating, a night out on the town, a mobile office, or for entertaining business clients. The Company’s products are proudly offered at competitive wholesale prices direct to the consumer, and through a nationwide network of dealers.
“The opportunity to be the first institutional investor in Ultimate Toys, a rapidly growing, innovative business with a large addressable market, fits squarely within Corinthian’s target investment parameters”, said Kenneth Clay, Managing Partner of Corinthian. “We are excited to partner with Ultimate Toys and its strong management team to support the company through its next phase of growth” said Charles Bayer, Vice President of Corinthian.
Chief Executive Officer, Joshua Green said, “We are thrilled to partner with Corinthian Capital in the next chapter of our business. This will further accelerate our growth and provide access to new opportunities in establishing the Ultimate Toys brand as a market leader. It’s reassuring to have a proven and visionary partner in complete lockstep of our lofty goals and most importantly, helping more people to live their best lives every day.”
Debt financing for the transaction was provided by Turning Rock Partners, L.P. Legal advisor Latham & Watkins LLP represented Corinthian Capital on the transaction. CohnReznick LLP provided financial, accounting and tax advisory services to Corinthian Capital on the transaction. Ultimate Toys Inc. was advised by Livingstone, an international middle market investment banking practice.
For more information about Ultimate Toys, please visit www.ultimatetoys.com.
For inquiries regarding this investment, please contact Charles Bayer at cbayer@corinthiancap.com.
About Corinthian Capital Group, LLC
Corinthian Capital makes control equity investments in lower middle market companies, targeting opportunities where we can be the first institutional investor in founder or family-owned or operated businesses. We focus on manufacturing, services and distribution verticals, where our valuable segment experience and longstanding relationships have driven the successful execution of our strategy. Corinthian Capital is based in New York, NY with a branch office in Boston, MA. For more information, please visit www.corinthiancap.com.
Except as otherwise specified herein, Corinthian is the source of all information contained in this document. Corinthian believes the information contained herein is believed to be accurate as of the date set forth above. No assurance is made as to its continued accuracy after such date and Corinthian has no obligation to any recipient of this document to update any of the information provided herein. Past performance is not indicative nor a guarantee of future results.
This document includes projections or other forward-looking statements regarding future events, targets, intentions, or expectations. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. There is no guarantee that projected returns or risk assumptions will be realized or that an investment strategy will be successful. No representation, warranty or undertaking is made as to the reasonableness of the assumptions made herein or that all assumptions made herein have been stated. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product referred to directly or indirectly in this document will be profitable.
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SOURCE Corinthian Capital Group, LLC