Main Street Capital Invests $10 Million in Phantom Fireworks
Main Street Capital Corporation announced that it recently closed a new portfolio investment totaling $10 million of invested capital in B.J. Alan Company (Phantom Fireworks). Main Street’s investment in Phantom Fireworks consists of $10 million in second lien secured debt. Main Street’s investment refinances existing second lien debt and provides growth financing to Phantom Fireworks.
Headquartered in Youngstown, OH, Phantom Fireworks is a showroom fireworks retailer and the second largest importer, wholesaler and distributor of consumer fireworks.
Phantom Fireworks maintains an extensive portfolio of trademarked private label consumer fireworks products and has 53 permanent showrooms in 13 states and 1,400+ seasonal retail fireworks locations in 17 states. Phantom Fireworks also services wholesale accounts in 46 states, managing chain store programs for retailers, wholesalers and distributors.
Main Street is a principal investment firm that provides long-term debt and equity capital to lower middle-market companies and debt capital to middle-market companies.