The Firmament Group And Surge Private Equity Invest In Global Bakeries, Inc.
NEW YORK, Dec. 4, 2018 /PRNewswire/ -- The Firmament Group ("Firmament"), a leading provider of tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs), announced today an investment in Global Bakeries, Inc. ("Global Bakeries" or the "Company"). Global Bakeries is a 40-year-old specialty baked goods manufacturer. Headquartered in Pacoima, CA, the Company specializes in non-GMO bread products such as pita bread, pita chips, bagels and croissants for grocery stores, bakeries and restaurants.
As a provider of bespoke capital solutions, Firmament provided debt financing and a portion of equity financing as part of the purchase of the Company by Surge Private Equity ("Surge"), a Dallas-based private equity firm that seeks to invest in small, growing businesses. Specific terms of the transaction were not disclosed.
Tom Beauchamp, Partner at Surge Private Equity, said, "With 11 year weighted average customer tenure and dozens of different high-quality innovative and branded products, we see huge potential in Global Bakeries. We are eager to assist in taking Global Bakeries to the next level by continuing to expand our offerings into the latest trends such as organic and gluten free."
Lauren Steel, Vice President at Firmament, added, "We are proud to serve as a financing partner for a long-standing leader in the baked goods market, with a reputation for high quality and taste that has been cultivated over the past four decades. The Company is industry-renowned for its exceptional pita bread, bagels and croissants, and we look forward to expanding Global Bakeries' reach while maintaining all of the ingredients that have successfully set the business apart from its peers."
About Global Bakeries, Inc.
Global Bakeries Inc. (http://www.globalbakeriesinc.com/) was founded in 1977 by Albert Boyajian. The Company is one of the largest specialty bakeries privately owned in the western half of United States. Decades of baking expertise, combined with old world baking traditions, produce baked goods with an unmatched reputation for taste and superior shelf life. Control standards that are employed throughout every department ensure the highest quality products are produced for the Company's 100+ customers.
About Surge Private Equity
SURGE Private Equity (https://www.surgepe.com/) is a Dallas based private equity firm that seeks majority buyouts of growing businesses with $2-$5 million of EBITDA. Together with its lending partners, Surge provides entrepreneurs with liquidity and investors with higher yields and greater accessibility through lower investment minimums. Surge primarily invests in companies where the seller will remain on board in an ongoing capacity.
About The Firmament Group
Established in 2012, The Firmament Group (www.thefirmamentgroup.com), formerly known as McLarty Capital Partners, provides tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs). Firmament is a value-added partner to entrepreneurs, management teams and business owners and provides solutions by deploying versatile capital in a user-friendly way. Firmament seeks both senior and junior debt capital opportunities including unitranche, second lien and mezzanine debt, and also provides equity capital structured as either preferred or common equity. Firmament is focused on turning small business into big business.
Contact: Allie Reitman, [email protected], 212-314-0165
SOURCE The Firmament Group
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http://www.thefirmamentgroup.com
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