Citizens Bank closed $30 million of new senior secured credit facilities for Pride Manufacturing, a global manufacturer and distributor of golf tees, plastic golf cleats and other golf-related accessories as well as cigar tips and other precision engineered wood products.

Citizens Bank acted as sole lead arranger, bookrunner and administrative agent on the new senior secured credit facilities. The company will use the proceeds of the financing to refinance existing debt and for general corporate purposes including various growth initiatives.

“The Pride transaction continues our long-term relationship with Citizens Bank”, said Ryan Miller, Managing Director of Lindsay Goldberg. “Citizens is a valuable financial partner to Lindsay Goldberg on a number of other portfolio investments and we look forward to working with them more in the future.”

“We are very pleased to have worked with Citizens Bank on this transaction,” said Pride Manufacturing Company CEO and President Joe Zeller. “The deal team at Citizens brought a number of great ideas to the table and executed the new transaction seamlessly. The credit facilities significantly reduce Pride’s cost of capital and offer enhanced flexibility that positions the company for future growth.”

“Pride Manufacturing is a great client with an excellent business operation,” said Steve Woods, head of corporate banking at Citizens Bank. “We are very pleased to help the Pride management team achieve their strategic and financial goals.”

Tennessee-headquartered Pride Manufacturing is owned by funds managed by Lindsay Goldberg.