Avante Mezzanine Partners Announces Investment in PIU Management

Los Angeles, California – Avante Mezzanine Partners is pleased to announce its investment in PIU Management (dba Fun Brands) to fund its acquisition of HQ Carousel. Headquartered in Tempe, Arizona, Fun Brands is a portfolio company of Tregaron Capital, a lower middle market debt and equity fund based in Palo Alto, CA. Fun Brands is the franchisor of Pump It Up and BounceU, the leading operators of inflatable party centers. The Company acquired HQ Carousel, one of the largest owners and operators of double-decker carousels in the United States.

Avante provided subordinated debt, along with Tregaron Capital, to support the Company’s acquisition of HQ Carousel. "The Partners at Avante have a long history of working with successful and knowledgeable investors such as Tregaron Capital. We appreciate our deep relationships with sponsors and strive to provide them with flexible capital and a trusted partnership. We were excited to partner with Tregaron as well as the experienced management team at Fun Brands to help finance the acquisition of HQ Carousel." said Jeri Harman, a Founder and Partner of Avante. "Tregaron has owned Fun Brands for a number of years and has added significant value to the business by expanding management and growing enterprise value. The combined business is a compelling platform in the children’s entertainment industry," said Ivelisse Rodriguez Simon, Vice President of Avante.

“Over the many years we have known the professionals at Avante, they have consistently been very strong financing partners providing quick feedback and competitive proposals. We value our relationship with Avante and are very pleased to work with them on this transaction,” said JR Matthews, Managing Partner of Tregaron Capital.