Parachute Manufacturer Lands Safely With Help From Carofin
Carofin and CFS Announce Successful Financing of Global Military Grade Parachute Manufacturer
BREVARD, N.C., Sept. 20, 2022 — Carofin and Carolina Financial Securities are pleased to announce they have successfully raised a total of $7,500,000 in Senior Secured Debt and Participating Preferred Equity for Paradigm Parachute & Defense, Inc. The funds were sourced through Carofin’s growing network of accredited investors and family offices looking to allocate capital into direct private investments.
Founded in 2019 and based in Pensacola Florida, Paradigm manufactures high quality, precision, military style parachute systems and associated defense products for use by commercial, government, and humanitarian customers worldwide.
Paradigm’s management has decades of military service specific to parachute operations and related safety inspection with the United States Army. Subsequently, they have held senior management positions at Safran, the largest parachute manufacturer in the world.
“Carofin’s speed and precision in sourcing our capital needs were impressive,” said Paradigm Co-CEO Aaron Nazaruk. “Prior to our engagement with Carofin, we tried multiple avenues to find flexible, sustainable capital we needed to grow our business and came up empty handed. Carofin secured the capital in under a month once our offering hit the market.”
With the proceeds, the Company expanded production to meet existing demand, generated more, larger contracts, purchased raw materials, met other working capital needs, and recapitalized the Company.
“The unprovoked war on Ukraine is having global macro repercussions, from commodity price spikes to significant losses in the public markets,” said Josh Greene, Carofin’s VP of Sales and Analytics. “From a micro perspective, here’s one company doing what it can to meet surging demand for disposable parachutes utilized for a variety of initiatives, including humanitarian aid, among other means of support. We are proud to partner with a company that can provide help to the people of Ukraine during this time.”
Carolina Financial Group (CFG), Carofin’s and CFS’s parent company, is a private investment bank that structures investments and raises vital capital for small to medium-sized businesses seeking growth capital in the U.S. Carofin and CFS have raised over $1.25B since 1995 across more than 200 private transactions.