Blacksail Capital Partners announced the closing and funding of a $4,500,000 senior credit facility for a Snack Food Manufacturer based in Northeastern United States.

Proceeds of the facility are being used to facilitate the acquisition of a complimentary snack food business, refinance existing debt and to support working capital for future growth. The facility consisted of $3.5 million revolver and $1.0 million term loan.

James Franz, President of Blacksail Capital Partners USA, stated: “We are pleased that we were able to help this company complete an acquisition that will enhance both businesses and provide an exit for one business owner. These types of transactions are what we do at the Garrington Group of Companies family. The acquirer was not able to get conventional financing, as they wanted two years of combined performance before they would even consider lending to the Snack Food Company. Blacksail was a perfect solution to ensure that they had capital to complete their deal and support future growth. We look forward to growing our partnership with them for many years to come.”