Firmament Group to Invest in Global Bakeries

The Firmament Group, a provider of tailored debt and equity capital solutions to small- and medium-sized enterprises (SMEs), announces an investment in Global Bakeries, a 40-year-old specialty baked goods manufacturer.

Headquartered in Pacoima, California, the USA, the company specializes in non-GMO bread products such as pita bread, pita chips, bagels and croissants for grocery stores, bakeries and restaurants.

As a provider of bespoke capital solutions, Firmament provided debt financing and a portion of equity financing as part of the purchase of the company by Surge Private Equity, a Dallas-based private equity firm that seeks to invest in small, growing businesses. Specific terms of the transaction were not disclosed.

Tom Beauchamp, partner at Surge Private Equity, said: “With 11 year weighted average customer tenure and dozens of different high-quality innovative and branded products, we see huge potential in Global Bakeries. We are eager to assist in taking Global Bakeries to the next level by continuing to expand our offerings into the latest trends such as organic and gluten free.”

Lauren Steel, vice president at Firmament, added: “We are proud to serve as a financing partner for a long-standing leader in the baked goods market, with a reputation for high quality and taste that has been cultivated over the past four decades. The company is industry-renowned for its exceptional pita bread, bagels and croissants, and we look forward to expanding Global Bakeries’ reach while maintaining all of the ingredients that have successfully set the business apart from its peers.”