Pride Manufacturing, which makes Lincoln Logs at its plant in Burnham, has secured $30 million in financing.
The company said it plans to use the credit from Citizens Bank to refinance existing debt and other general purposes, “including various growth initiatives.”
Pride Manufacturing is based in Tennessee and has a major operation in Burnham, where it makes golf tees, golf cleats, wooden cigar tips and other wood products. Last September, K’NEX, which licenses the rights to market Lincoln Logs from Hasbro Inc., announced it would begin making the toy building logs at Pride’s plant in Maine. The new work had led to about five additional jobs at the Burnham plant, said manager Randy Dicker.
Dicker also said the company regularly makes investments and upgrades at the plant, but he couldn’t say if any of the $30 million was destined for the Maine operation.
Pride Manufacturing is owned by Lindsay Goldberg LLC, a private investment firm.
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