White Oak Global Advisors provided a $75 million term loan to North Atlantic Imports, which also operates under the name Blackstone Products.
“Blackstone is an innovator in its industry, and we are excited to support their continued growth,” Albert Brandano, director of originations at White Oak Global Advisors, said. “We worked hand-in-hand with the company to tailor a solution to help facilitate a pending business combination while best positioning Blackstone for the future.”
Blackstone entered into an agreement with Ackrell SPAC Partners I, a special purpose acquisition company in December 2021. Through the agreement, Blackstone will become a public company and is expected to be traded on the Nasdaq under the new ticker symbol “BLKS.”
“At this critical stage of our growth, Blackstone required a differentiated credit solution,” Roger Dahle, founder and CEO of Blackstone Products, said. “White Oak has been incredibly supportive in this capacity, leveraging their deep market expertise without sacrificing execution and I appreciate their partnership.”
“We are pleased to have worked with White Oak to create a financial solution that supports Blackstone’s new business venture,” Jeff Kaye, director with Wells Fargo Commercial Capital Originations, said. “Blackstone has done a great job positioning themselves as a market leader and we look forward to being part of their continued success and helping them achieve their long-term strategy.”
