Business Description:
Bravo is a leading global manufacturer and marketer of branded and OEM hard goods, components and accessories for the skateboard and inline skating markets. Major products include wheels, bearings, skateboards, protective gear and related soft goods sold under leading category brand names such as Hyper®, Kryptonics®, BSB®, Formula One®, True®, Bullzeye®, Senate® and Kuzak®. Bravo maintains a strong leadership position in the replacement wheel and bearing market with over 85% market share and is a category leader in the skateboard market.

Falcon Solution:
In 2004, Bravo, then a portfolio company of a major private equity group, had identified a highly accretive acquisition opportunity. However, the sponsor was not able to invest additional capital because the portfolio company was in a legacy fund. Despite this dynamic, Falcon provided senior subordinated notes with warrants to fund the acquisition while minimizing dilution for the sponsor.