G2 Capital Advisors served as exclusive financial advisor to Action Target, Inc, a Dubin Clark portfolio company, on the refinancing of its existing credit facilities

CLIENT

Founded in 1986, Action Target, Inc. (“Action Target” or the “Company”), a portfolio company of Dubin Clark & Company, Inc. (“Dubin Clark”), is the leading provider of equipment and services for live-fire training facilities. With the most technologically advanced and customized live-fire solutions, Action Target is the provider of choice for law enforcement, military, international, and commercial customers.

SITUATION

Action Target successfully implemented a growth strategy started in 2019 to expand and professionalize service offerings for live-fire training facilities. With the reorganization of the business into two distinct and focused business units, Range Projects and After-Market Services, Action Target was seeking to refinance its existing debt to lower the cost of capital and expand capacity to fund growth initiatives.

ENGAGEMENT

G2 Capital Advisors, LLC (“G2”) served as the exclusive financial advisor to the Company. G2’s Capital Markets team leveraged deep capital markets expertise and precise positioning of the Company’s growth strategy to generate a competitive process that ultimately yielded a flexible capital solution capable of supporting Action Target’s strategy going forward.

OUTCOME

The new senior secured credit facility consists of an Asset Based Revolver and Term Loan Facility (i.e., unitranche) provided by Emigrant Bank.

Mike Birch, Chief Executive Officer, commented, “Despite a turbulent year stemming from the COVID-19 pandemic, we continued to successfully expand our After-Market Services unit while also continuing to drive strong performance in our core Range Products business across all channels. We hired G2 to find a new financial partner who could support our growth objectives for the future. G2 took the time to understand all facets of our business. They helped us articulate a compelling and detailed investment opportunity for potential lenders, which we believe was an important part of the success of this transaction.

Tom Caracciolo, Managing Partner at Dubin Clark, added, “We also were impressed with G2’s ability to access a broad range of lenders, which allowed us to simultaneously evaluate multiple structures for the Company. G2 seamlessly coordinated an efficient competitive process and found the right partner for the Company in Emigrant Bank.”

“We are proud to have partnered with Action Target to execute a refinancing that will provide the fuel for the next stage of their growth. Management put in a significant amount of dedication and focus to execute a strategic shift during a pandemic. It is great to see this hard work pay off as the Company now has the capital structure in place to support initiatives to drive higher growth and profitability,” said Howard Lanser, Managing Director and Head of Capital Markets at G2.

About Action Target

Action Target is a business that has transformed the concept of shooting range installations. Founded in 1986, the company started by creating a pneumatic turning target system for the Provo Police Department training curriculum. From there, the Company continued to design, develop, and implement new products and services for the $600 million live-fire training facility market serving the U.S. commercial, U.S. military, U.S. law enforcement, and international segments. The Company has redefined the customer experience in live-fire training facilities by introducing groundbreaking technology-driven solutions that generate a modern feel and maximize engagement. For additional information, visit https://actiontarget.com/.

About Dubin Clark

Established in 1984, Dubin Clark is a private equity firm that focuses on strategic and operational value creation. Dubin Clark seeks to acquire interest in branded consumer and industrial niche manufacturers and specialty services businesses with unique business models and a strong growth trajectory. The Firm is based in Boston, Massachusetts, with an additional office in Jacksonville Beach, Florida. For additional information, visit https://dubinclark.com/.

About G2 Capital Advisors

G2 Capital Advisors provides M&A, capital markets, and restructuring advisory services to the middle market. We offer integrated, multi-product and sector-focused services by pairing highly experienced C-level executives with specialist investment bankers. We aspire to be the trusted advisor of choice to our clients including corporations and institutional investors.

CONTACTS ON THIS DEAL:

Howard Lanser, Managing Director, Head of Capital Markets
C: 312.961.7227 E: [email protected]

Cullen Moore, Senior Analyst, Capital Markets
C: 774.571.7926 E: [email protected]

Ben Wright, Chief Operating Officer
C: 619.972.3586 E: [email protected]

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