ORIX Growth Capital and Square 1 Bank Announce Expanded Banking and Credit Relationship With CustomInkNovember 15, 2016
ORIX Growth Capital and Square 1 Bank, a division of Pacific Western Bank, today jointly announced an expanded banking and credit relationship with CustomInk, the leading provider of custom apparel and accessories for groups and communities. The credit facility will give CustomInk increased financial flexibility and allow the company to take advantage of future business opportunities, as needed.
“ORIX has been a terrific partner to CustomInk, and we’re delighted to expand that relationship to include Square 1,” said Kevin Cheetham, chief financial officer for CustomInk. “CustomInk works with our customers to help them build a stronger sense of community, so community is central to everything we do, and we’re pleased to be part of such a strong financial community with ORIX and Square 1.”
“ORIX has recognized CustomInk’s leading market position and customer value since our relationship began in 2014,” said Jeff Bede, co-head of ORIX Growth Capital. “With CustomInk’s continued strong customer and financial performance, we are very pleased that Square 1 has joined us to support the company’s growth and success.”
Adam Glick, senior vice president, technology banking and syndications at Square 1, added, “CustomInk’s passion for what they do is rooted in the belief that custom apparel can bring people together. That passion and their commitment to quality and customer service have been the foundation for the company’s success to date. We’re excited to team up with ORIX in support of CustomInk and proud to be part of their continued growth.
Based in northern Virginia, CustomInk combines an easy online Design Lab with personal customer care to help its customers create the perfect design for any club, school, business, team or charity. Since its founding in 2000, CustomInk has expanded its product offerings and services, and has helped people create more than 75 million custom t-shirts. CustomInk employs more than 1,600 people nationwide and has opened or expanded five new facilities around the country in the last two years. CustomInk is consistently recognized as a top workplace and most recently ranked 58 on Fortune’s List of 100 Best Companies to Work For.
About ORIX Growth Capital
ORIX Growth Capital specializes in designing highly customized financing solutions for high-growth companies with investments starting around $5 million and growing to $50 million. The team has committed over $1.4 billion to more than 125 companies. ORIX Growth Capital is a business unit of ORIX USA, a Dallas-based financial services firm known for providing innovative capital solutions that clients need to propel their business to the next level. With more than 600 employees spanning nearly 20 offices across the U.S. and Brazil, ORIX USA and its family of companies hold $6 billion of assets and manage an additional $29 billion, approximately. Its parent company, ORIX Corporation, is a Tokyo-based, publicly owned international financial services company with operations in 37 countries and regions worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). For more information on ORIX Growth Capital, visit www.orix.com.
About Square 1 Bank
Square 1 Bank is a division of Pacific Western Bank, a Los Angeles-based commercial bank with over $21 billion in assets. A full service financial services partner to entrepreneurs and their investors, Square 1 provides clients flexible resources and attentive service to help their companies grow. Square 1 offers a broad range of venture debt, treasury and cash management solutions through offices in top innovation centers: Atlanta, Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. Pacific Western Bank is a wholly-owned subsidiary of PacWest Bancorp (NASDAQ:PACW). For more information, visit www.square1bank.com.
CustomInk is the leading provider of custom apparel and accessories for groups and events. CustomInk believes that t-shirts and other custom products have the power to bring people together and strengthen their sense of community. CustomInk combines an easy online Design Lab with personal customer care to help its customers create the perfect design for any club, school, business, team, or charity. CustomInk created Booster to make it easy for groups to raise money and awareness through the sale of custom products, and Pear is a platform that helps connect grassroots groups and events with national and local brand sponsors. In 2016, CustomInk acquired Represent, a Los Angeles-based social commerce startup that helps influencers like actors, athletes, musicians, and thought leaders create and sell limited-run t-shirts and merchandise to their fans and followers. CustomInk is based in Fairfax, Virginia with offices in Charlottesville, Virginia; Reno, Nevada; Dallas, Texas; Los Angeles, California; Boston, Massachusetts; and Chicago, Illinois.
Square 1 Bank, a division of Pacific Western Bank