Breakaway Capital has provided an $8 million senior unsecured credit facility to SureFire, a designer, manufacturer, and distributor of flashlights, tactical lights, firearm suppressors, laser aiming devices, communications equipment and other firearm accessories.
SureFire’s customers include law enforcement and government agencies throughout the United States and internationally. The company is an active designer of new products and has 160 issued and 25 pending US patents, and 68 issued and 29 pending foreign patents. SureFire was founded in 1979 as Laser Products Corporation and changed its name in 2000 to SureFire, LLC. The company is headquartered south of Los Angeles in Fountain Valley, CA (www.surefire.com).
“This transaction is representative of Breakaway’s strategy to provide complete one-stop financing solutions for well managed lower middle market companies,” said Warren Woo, Breakaway’s founder.
Breakaway has approximately $50 million of committed capital under management and provides senior debt, subordinated and mezzanine debt, unitranche structures, structured equity and common equity to companies with up to $5 million of EBITDA. The firm targets leveraged buyouts, acquisitions, recapitalizations, restructurings and growth capital for both sponsored and non-sponsored transactions. Breakaway is based in Los Angeles (www.breakawaycap.com).
“Breakaway is a great capital partner for SureFire. We were very pleased that Breakaway was able to structure and quickly deliver a creative solution for our capital requirements.” said Dr. John Matthews, Chief Executive Officer of SureFire and one of the company’s founders.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-6-16