Calabasas Capital is pleased to announce the successful closing of a mezzanine debt financing for its client, Background Images, Inc., an equipment rental company based in Valencia, California.
Background Images provides a broad range of audio visual equipment on a rental basis to the entertainment and tradeshow industries. The new capital was sourced by Calabasas Capital from New York-based Full Circle Capital, a publicly traded business development company.

Calabasas Capital advised Background Images on financing alternatives and ran a competitive process soliciting interest from several private equity groups, mezzanine debt funds and non-bank cash flow lenders. Full Circle was able to fund the transaction within 30 days of a signed term sheet. We negotiated on behalf of Background Images, spearheaded the entire due diligence process, advised on structuring and worked closely with the attorneys on documentation.

Alan Barber, a significant shareholder and Vice President of Background Images said “It would be very hard not to give David Bonrouhi and his team at Calabasas Capital a 10 out of 10 rating in helping us secure our recent financing. He brought many capital sources to the table and helped us select the one that would work the best with us. He has the ability to look into the future to help with present-time decisions and proved time and again that his recommendations were spot on. We are a company that needed a hands-on person in his position and he could not have been better. I would recommend Calabasas Capital in an instant. If the bases are loaded – David hits the grand slam.”