F.N.B. Capital Corporation, a Pittsburgh-based merchant banking subsidiary of F.N.B. Corporation (NYSE: FNB), closed a $10m mezzanine financing investment in The B.J. Alan Company, a Youngstown, Ohio-based distributor of consumer fireworks.
B.J. Alan’s products include fountains, cakes, rockets, mortars, and aerial repeaters.
The funds will be used to expand the Phantom Fireworks brand, allow for further growth, and assist with the seasonal nature of the business.
Commenting on the deal, Bruce Zoldan, President and CEO of the company, stated: “We are pleased to enter into this transaction with the F.N.B. Capital Corporation team. Since the 1970s we have strived to provide our customers with best- of-class service and selection and this investment will allow us to continue our growth strategies and capitalize on the favorable trends in our industry”.
FinSMEs
05/11/2009