By USDR
The Thomas Kinkade Company announces a change in ownership from the Kinkade Family Trust to Art Brand Studios, an affiliated entity of Next Point Capital, a Los Angeles based private equity firm. The managing partner of Next Point Capital, Mark Mickelson, has a long-term relationship with the Kinkade family and the Thomas Kinkade brand. He had also previously been an investor in the company.
“Because of the company’s past relationship with Mark, I believe he understands all aspects of the business and shares my vision of maintaining the superb quality of the Thomas Kinkade brand and honoring the Kinkade legacy,” stated Nanette Kinkade. “I look forward to my continued collaboration with the company through the Thomas Kinkade Museum, a non-profit organization established to educate and support artists pursuing the visual arts.”
CEO, John Hasting says, “Our entire team is excited about the future of the Thomas Kinkade Company, and we look forward to working with Mark and Next Point Capital. This transaction will help us grow the company and continue Thom’s vision of bringing peace and joy to people’s lives.”
Patrick Kinkade says, “I honestly believe there could be no better partner to ensure the future of the Kinkade brand and in building what my brother had envisioned; a company based on core values that has the reach to impact the world one heart at a time. To capture the sentiment of one of Thom’s best known painted works, it is a ‘New Day Dawning,’ one filled with blessings, opportunities, hope and growth.”
“Thomas Kinkade is a household name and a symbol of faith, family and hope. There is no other art brand in the world that is more established and recognized. I’m thrilled about the opportunity to partner with Nanette Kinkade and her family and believe there is an exciting opportunity to grow all areas of the business,” stated Mickelson.
Next Point Capital is a private equity firm that makes long-term investments in companies. Unlike many private equity firms, Next Point’s investment philosophy is to hold companies indefinitely without any pressure to sell. Breakaway Capital completed the acquisition financing. Breakaway Capital is a private investment fund based in Los Angeles that provides debt and equity financing to lower middle market companies. “We couldn’t have a better financing partner than Breakaway. They are honest, smart and supportive of the company’s future growth plans,” stated Mickelson.
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