News

Pure Fishing Inc, one of the largest fishing tackle businesses in the world with 23 key brands and portfolio company of New York-based Sycamore Partners, has announced the closing of a refinancing transaction of its outstanding debt.

As part of this transaction, Pure Fishing entered into a new five-year, $750 million first lien credit facility with a consortium of lenders including Monarch Alternative Capital LP and Silver Point Finance as co-lead lenders.

The proceeds of the new debt financing are being used to repay the company’s existing term and asset-backed loans in full. The transaction provides Pure Fishing with additional long-term capital as the company continues its growth trajectory.

Pure Fishing’s CEO Dave Allen said: “Pure Fishing is the number one player with the best collection of brands in the industry. We are pleased with the successful completion of this transaction, which fully addresses our debt maturities and further strengthens our financial position.We look forward to continuing to grow our iconic brands, drive innovation, and execute on our strategic plan.”

Lazard, Inc. served as sole financial advisor and Kirkland & Ellis LLP served as legal advisor to Pure Fishing. Milbank LLP served as legal advisor to the lenders.

Pure Fishing’s brands cover every aspect of fishing with big names including Abu Garcia, Berkley, DAM, Fenwick, Fin-Nor, Frabill, Greys, Hardy, Hodgman, Johnson, JRC, Madcat, Mitchell, Penn, Pflueger, Plano, Prologic, Savage Gear, Shakespeare, SpiderWire, Stren, Ugly Stik and Van Staal.

www.purefishing.com