BRENTWOOD, TN –Pride Manufacturing Co., manufacturer of wooden golf tees and other engineered wood products and accessories, recently received $30 million in financing through New England-based Citizens Bank.
“We are very pleased to have worked with Citizens Bank on this transaction,” said Pride Manufacturing Company CEO and President Joe Zeller. “The deal team at Citizens brought a number of great ideas to the table and executed the new transaction seamlessly. The credit facilities significantly reduce Pride’s cost of capital and offer enhanced flexibility that positions the company for future growth.”
Pride will use its new credit line to refinance existing debt and to spearhead several growth initiatives and other general coporate purposes, the company said.
Founded in 1930, Pride is headquartered in Brentwood, TN, with manufacturing operations in Burnham, ME. It is now one of the world’s largest manufacturer of wooden golf tees and other golf products and accessories.
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