Iron City Brewing

Iron City Brewing

Iron City Brewing is one of the largest independent regional brewers in the U.S. and its core brands (IC Light and Iron City) enjoy iconic stature in Western Pennsylvania and the surrounding states.

Challenge: Structure and raise senior debt for the Company that had recently come out of bankruptcy and had limited EBITDA and asset coverage but adequate value in its brands and real estate

Solution: Raised $7.0 million Revolving Credit Facility and term Loan

  • The capital raised provided for significantly higher advance rates against the Company’s brands, real estate and equipment than the prior lender
  • The credit facility allowed the business to triple its EBITDA over the next two years by providing for a significantly larger marketing and advertising budget and the exit of beer production in-house
  • Process resulted in a highly negotiated, highly structured term sheet which was tailor made for the needs of Iron City Brewing
  • Funded by a public BDC and asset based lender
  • Andersen Partners served as exclusive financial advisor in the sale of the brands in 2011 to a NY based private equity group