Bridger Aerospace secures $331 million financing for fleet expansion

Bridger Aerospace Group Holdings Inc. (NASDAQ: BAER) announced it secured a $331.5 million senior secured credit facility led by Bain Capital's Private Credit Group. The aerial firefighting company also completed a previously announced sale-leaseback of its Bozeman Yellowstone International Airport campus facilities.

The financing package consists of a $21.5 million revolving credit facility, $210 million senior secured term loan, and $100 million fleet expansion facility. The transactions refinance Bridger's existing $160 million municipal bond with Gallatin County and consolidate the company's debt while providing capacity for future fleet expansion.

"This financing marks a turning point for Bridger," said CEO Sam Davis. "Our strong quarterly results and our expectations for a second record year have made it possible for us to refinance our existing debt and enter into a new expanded debt facility with increased capacity."

The Montana-based company provides aerial firefighting services to federal and state government agencies, including the United States Forest Service. Davis noted that federal, state, and defense contracts have established the company's revenue model on a year-round basis.

David Healey, a managing director at Bain Capital, said the investment reflects confidence in Bridger's leadership and ability to deliver services to government agencies. Stifel, Nicolaus & Company served as sole debt placement agent and financial advisor on the transaction, while Crestline Direct Finance served as joint lead arranger.

The financing aims to support the company's aircraft acquisition plans and contract expansion initiatives. Bridger describes itself as one of the nation's largest aerial firefighting companies, operating from its Belgrade, Montana headquarters.

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