Cyprium Partners Announces New Sponsorless Mezzanine Investment in B.J. Alan Company
Cyprium Partners, a non-control private equity firm, is pleased to announce its new sponsorless mezzanine investment in B.J. Alan Company, dba Phantom Fireworks. The capital was used to refinance existing indebtedness and to fund continued growth. This investment was Cyprium’s fourth transaction from its Cyprium Investors IV fund, which closed in December 2014.
Founded in 1972 by owner / CEO Bruce Zoldan and headquartered in Youngstown, Ohio, B.J. Alan is the largest retailer of consumer (“1.4G”) fireworks in the United States (see www.fireworks.com). B.J. Alan will operate over 70 permanent Phantom Fireworks showroom stores in 17 states this year and provide products to approximately 1,200 seasonal locations throughout the country.
“We at Cyprium are excited to invest alongside the owners and management team at Phantom Fireworks,” said Cindy Babitt, a Managing Partner at Cyprium Partners. “Over the last 43 years, Bruce Zoldan and the B.J. Alan team have built the company into one of the largest consumer fireworks retailers in the U.S. by delivering quality, value, and selection to Phantom Fireworks customers. We look forward to a long relationship with B.J. Alan, its management, and employees.”
ABOUT CYPRIUM PARTNERS
Cyprium Partners is a private equity firm focused on non-control (minority ownership) investments. Cyprium utilizes a combination of subordinated debt, preferred stock, and/or common stock to enable privately-held businesses, entrepreneurs, and management teams to achieve their financial and strategic objectives. With offices in Cleveland, New York, and Chicago, the firm invests $10 million to $60 million per transaction in U.S. and Canadian companies with $8 million or more of EBITDA. Learn more about Cyprium Partners at: www.cyprium.com.