U.K.-based Coolabi Group has received an £11 million ($14.8 million) funding package from Santander Corporate & Commercial, which will allow the company to expand its catalog and make new acquisitions.
Coolabi Group specializes in the creation, development and brand management of such kids’ and family IP as the Clangers reboot. The investment is helping the company refinance existing debt and will support its long-term growth strategy, which includes investing in digital apps and new titles, the production of original content and making additional acquisitions.
Tim Ricketts, the chief financial and operating officer at Coolabi Group, said: “The support from Santander Corporate & Commercial will enable Coolabi to continue building and investing in high-quality TV productions, books and digital content for family entertainment and help us catalyze our growth strategy. The Santander team really understood both our business and strategy while delivering in an efficient manner. We look forward to building upon our partnership.”
Paul Baker, relationship director at Santander Corporate & Commercial, noted: “Coolabi has grown into an influential player in the U.K. and global children’s entertainment sector due to a commitment to strong, high-quality content and a focus on multimedia engagement. Its success is testament to its highly regarded management team, and Santander is delighted to be able to support their long-term expansion plans.”
David Glick, chairman of Coolabi Group and CEO of its major investor, Edge, added: “Coolabi is a powerful reminder of the U.K.’s success in fostering creativity, having specialized and excelled in the creation, development and brand management of children’s and family intellectual property rights in so many geographies. This refinancing will help Coolabi make significant investments in original content and position the company for an even more successful future, helping to cement the U.K.’s reputation as a global leader in the creative industries.”