Smoker Friendly Receives $51M Funding Boost to Grow Operations
BOULDER, Colo. Smoker Friendly is poised for more growth as its holding company, Bolder Panther Group LLC, completes a minority recapitalization and debt restructure with Main Street Capital Corp.
In the transaction, Main Street funded $51.7 million in a combination of first-lien, senior secured term debt and a direct preferred equity investment. Smoker Friendly continues to be owned and operated by the Gallagher family and led by the current management team.
Main Street is also providing the company with a revolving line of credit to support its working capital needs and has agreed to make a delayed draw term loan available to the company to assist with its acquisition growth strategy.