Case Summary: Louisville Slugger
$6.5 million second lien term loan
Based in Kentucky and founded in 1884, Hillerich & Bradsby (d/b/a Louisville Slugger) sells baseball related products under one of the most iconic brand names in baseball. The Louisville Slugger brand is deeply rooted within the history of Major League Baseball in the United States, with more than 60% of all major league players utilizing its wooden bat products. Manufacturing of wood bats is done at the company’s facility in Louisville, where it also operates a world-class museum celebrating the history of baseball.
Crystal Financial SBIC LP provided a $6.5 million second lien term loan behind a nationally known money center bank. Proceeds from the facility provided the Company with additional liquidity to support growth and refinance certain existing debt.