Bridger Aerospace Secures 331 Million Financing to Expand Fleet

Bridger Aerospace Fortifies Future with $331 Million Strategic Financing

In a significant move signaling robust confidence in the future of aerial firefighting, Bridger Aerospace Group Holdings, Inc. has announced a major financial restructuring. The Belgrade, Montana-based company, a key player in wildfire suppression and management, has secured a new senior secured credit facility of up to $331.5 million. This injection of capital, led by the private credit group of Bain Capital, is not merely a balance sheet adjustment; it represents a strategic pivot designed to fuel organic growth, modernize its fleet, and solidify its position as an industry leader. The move comes as the demand for aerial firefighting services intensifies globally, driven by the increasing frequency and severity of wildfires.

Founded in 2014 by former Navy SEAL Tim Sheehy, Bridger Aerospace has rapidly grown to become one of the largest aerial firefighting companies in the United States. The company provides critical services to government agencies across 24 states and into Canada, deploying a specialized fleet for wildfire surveillance, suppression, and management. This new Financing, coupled with a concurrent sale-leaseback of its campus facilities, allows Bridger to refinance existing debt, including a $160 million municipal bond, and unlock significant capital for future expansion. The market reacted positively to the news, with the company’s stock (NASDAQ: BAER) experiencing a notable surge in premarket trading.

A Strategic Overhaul of Capital Structure

The new financing is meticulously structured to address both current obligations and future ambitions. The $331.5 million facility is broken down into three key components: a $21.5 million revolving credit facility, a $210 million senior secured term loan, and a substantial $100 million fleet expansion facility. This delayed-draw tranche is specifically earmarked for future aircraft purchases, directly linking the new capital to the company’s growth in operational capacity. By consolidating various existing debts and refinancing a major municipal bond with Gallatin County, Bridger simplifies its financial structure and enhances its flexibility.

The move was complemented by the finalization of a $49 million sale-leaseback of its state-of-the-art campus at Bozeman Yellowstone International Airport. This transaction with SR Aviation Infrastructure frees up significant capital that was tied to real estate, allowing the company to prioritize its core mission: aerial firefighting. Bridger will continue its operations from the same facility under a 10-year lease, ensuring continuity while channeling resources toward more dynamic assets like its aircraft fleet. This dual-pronged financial strategy underscores a deliberate shift towards a more agile and growth-oriented operational model.

Company leadership has framed this development as a pivotal moment. Sam Davis, Bridger’s CEO, described the financing as a “turning point” for the company. He emphasized that strong performance and the expectation of a second consecutive record year enabled the favorable refinancing terms. “We believe this new facility significantly enhances our ability to grow organically,” Davis stated, highlighting the direct link between the capital and the company’s ability to secure new Contracts and drive long-term value.

“This financing marks a turning point for Bridger. 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.” – Sam Davis, CEO of Bridger Aerospace

Fueling Fleet Expansion in a High-Demand Industry

The core objective of this financial maneuver is to expand and modernize Bridger’s fleet. The company currently operates over 20 aircraft, including a formidable lineup of six CL-415EAF “Super Scoopers,” each capable of scooping and dropping 1,412 gallons of water. These are supported by a modern air attack fleet of Pilatus PC-12s and Daher Kodiak 100s, which serve as crucial command and control platforms during firefighting operations. The dedicated $100 million expansion facility is set to fund the acquisition of additional aircraft, enabling Bridger to meet the growing demand from government contracts.

The industry context makes this expansion both timely and necessary. Wildfire seasons are becoming longer and more destructive, increasing the reliance on specialized aerial assets. Bridger’s strategy aligns with a broader industry trend toward fleet modernization and the integration of advanced technology. The company is already involved in returning four CL-215T Super Scoopers to service for future European operations, signaling its international ambitions. Furthermore, Bridger has been a proponent of using technology like unmanned aerial vehicles (UAVs) for enhanced fire mapping and surveillance, providing critical intelligence to ground crews.

The confidence of the financial backers is a strong endorsement of Bridger’s strategy and operational capabilities. David Healey, a Managing Director at Bain Capital, expressed his group’s pride in supporting Bridger’s next phase of growth. This Investment reflects a belief in the company’s leadership and its proven ability to deliver essential services. While the new financing comes with a higher interest burden, as noted by some market analysts, it provides the necessary liquidity and capacity for Bridger to capitalize on its strong market position and secure larger, more comprehensive contracts.

Conclusion: A Clear Flight Path for Growth

Bridger Aerospace’s $331 million financing package is a decisive and strategic action that repositions the company for sustained growth. By restructuring its debt and unlocking capital through a sale-leaseback, Bridger has fortified its financial foundation and sharpened its focus on its primary mission. The capital infusion is directly tied to tangible expansion goals, particularly the enlargement of its specialized aerial firefighting fleet. This move not only enhances the company’s operational capacity but also strengthens its ability to compete for and execute large-scale government contracts on a year-round basis.

Looking ahead, this financial restructuring positions Bridger to be more resilient and adaptive in a rapidly evolving industry. As climate change continues to exacerbate wildfire conditions globally, the demand for sophisticated aerial firefighting solutions will only increase. With fresh capital, a clear expansion strategy, and the backing of major financial institutions, Bridger Aerospace is well-equipped to meet this challenge, drive innovation in the sector, and solidify its role as a critical partner in protecting communities and natural landscapes from the growing threat of wildfires.

FAQ

Question: What is the total amount of the new financing Bridger Aerospace secured?
Answer: Bridger Aerospace secured a new senior secured credit facility of up to $331.5 million.

Question: Who led the financing deal?
Answer: The financing was led by Bain Capital’s Private Credit Group.

Question: What are the main purposes of this new financing?
Answer: The primary purposes are to refinance a $160 million municipal bond, consolidate existing debt, and provide a $100 million facility specifically for future aircraft purchases and fleet expansion.

Question: Did Bridger Aerospace make any other major financial moves at the same time?
Answer: Yes, concurrently, the company finalized a $49 million sale-leaseback of its campus facilities at Bozeman Yellowstone International Airport to free up capital for fleet growth.

Sources: GlobeNewswire