Winter Harbor LLC

B.J. Alan Company

Firework Retailer Carries Out Recommended Improvement Initiatives

 

Doing business as Phantom Fireworks®, B.J. Alan Company is headquartered in Youngstown, Ohio, is America's premier consumer fireworks retailer. Phantom operates over 75 permanent, full-line consumer fireworks showrooms in 17 states, along with over 1,200 temporary sales locations in 18 states, and generates $125 million in annual revenue. Phantom has built a reputation for quality, value and selection that has set the standard in the consumer fireworks industry. Phantom®, Wolf Pack® and Grucci® brand products are known and appreciated by fireworks enthusiasts from coast to coast.

Our Role

As Financial Advisor, our professionals:

  • Evaluated the Company’s business assessment as prepared by the Company’s previous financial advisor.

  • Evaluated business segments.

  • Advised the Company on the restructuring of current debt.  

  • Developed refinance strategy and lead negotiations with lenders.  

  • Identified and secured replacement financing on current mezzanine debt.

  • Assessed, developed, and implemented short-term strategies to improve financials during refinance.

Engagement Outcome

Winter Harbor was hired by B.J. Alan to perform a comprehensive business assessment and partner with B.J. Alan management to develop and implement strategic initiatives focused on improving revenue. B.J. Alan successfully negotiated new terms of its forbearance agreement and refinanced its debt after improved performance resulting from our implemented initiatives.