Top US tackle supplier secures $45m loan to strengthen balance sheet

Sportsman’s Warehouse – a major fishing tackle supplier in the US – has secured a $45m loan to strengthen its balance sheet and boost overall liquidity.

In a statement, the Utah-based business said that the additional cash has boosted the company’s total borrowing capacity, which includes its revolving credit facility, to $395m. “We continue to proactively manage our balance sheet and are pleased to secure this new loan as we further execute our ongoing reset strategy,” said Paul Stone, Sportsman’s Warehouse President and CEO.

“Over the last year we have been focused on managing our debt and right-sizing our inventory to further solidify our capital position. We will continue to closely manage our operating expenses, inventory levels and overall working capital needs to align with the current trends of the business.”

“Sportsman’s Warehouse services a vital segment of the outdoor sporting goods market and we are excited to have the opportunity to partner with this management team and support its initiatives,” said Roger Malouf, Managing Director of Pathlight.

“The term facility provides flexibility and incremental liquidity which will further the company’s efforts to enhance its customers’ experience. We have confidence in the long-term trajectory of the business and are pleased to become one of Sportsman’s financial partners.”