Audax Private Debt, as lead investor and collateral agent, provided a second lien credit facility supporting Tenex Capital Management’s acquisition of JTM Foods.
Headquartered in Erie, PA, JTM Foods is a manufacturer of private label and branded snack pies and crispy treats. The company sells its handheld pies under the JJ’s Bakery brand in addition to an array of private label snack pies and crispy treats, distributing to grocery, convenience, value, dollar and mass retailers across the U.S. JTM Foods also co-manufactures products for branded food companies throughout North America.
Audax Private Debt provided staple financing as the incumbent lender to JTM Foods.
“We’ve supported JTM since 2014 and have seen management build the company into a leading national supplier of high-quality snack pies and treats,” Blake Loweth, managing director at Audax Private Debt, said. “We are thrilled to continue our partnership with the JTM team and look forward to working closely with Tenex to support the next phase of the company’s growth.”
