What's Happening in Youngstown, OH…

B.J. Alan Company, a Youngstown company that does business under the name of Phantom Fireworks, has a new investor.

According to a June 10, 2015 news item, the private equity firm of Cyprium Partners has made a mezzanine investment in the company, meaning an investment that is subordinated to senior debt, but above a company's equity. If a company were to declare bankruptcy, mezzanine debts would be repaid after senior debts.

Such investments are usually made in companies that are doing well, but want to make changes, refinance, or continue growing. In this case, Phantom wants to restructure its current debts as well and provide for continued growth.

Phantom's CEO and owner Bruce Zoldan founded his company, which is headquartered in Youngstown, in 1972. The organization is now the biggest retailer of consumer fireworks in the country. This year, the company will operate more than 70 permanent fireworks stores in 17 states. In addition, it will provide fireworks for about 1,200 locations across the country that open only for special occasions.

One of Cyprium Partner's managing partners, Cindy Babitt, says the investment firm is excited to invest in Phantom, since Bruce Zoldan and his team have built a successful company over the 43 years they have been in business.

Since the object of the investment is to allow Phantom to continue growing, the company might consider working with brochure printers on a booklet that explains its products and its plans.