North Atlantic Imports gets $75 million term loan

By Mary-Katherine Stinson

Lexington, Ky., April 11 – North Atlantic Imports, which also operates under the name Blackstone Products, secured a $75 million term loan from White Oak Global Advisors, LLC, according to a press release Monday.

The loan was offered on a split-lien basis alongside a Wells Fargo ABL revolver.

In December, the company also announced that it had entered into a definitive business combination agreement with special purpose acquisition company, Ackrell SPAC Partners I Co.

Subject to the satisfaction of certain closing conditions, the combined company will become public and is expected to be traded on the Nasdaq under the new ticker symbol “BLKS.”

North Atlantic Imports is a Utah-based distributor of branded griddles and accessories.

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