Solo Brands, Inc., parent of the Solo Stove, Chubbies, Isle and Oru brands, has appointed John Larson as permanent president and CEO, effective immediately. Larson will also continue to serve on the company’s Board.

The company also announced that Solo Brands, LLC, as borrower, an indirect subsidiary of the company, entered into Amendment No. 4 to the Credit Agreement dated as of May 12, 2021, by and among the Borrower, JPMorgan Chase Bank, N.A., as administrative agent, collateral agent and letter of credit issuer, and the lenders party thereto, to effect a comprehensive debt restructuring.

“This is a pivotal time for Solo Brands, and we have a strong team in place to implement our plans,” offered Larson. “This successful debt restructuring marks a substantial step forward, creating a significant runway and providing financial flexibility to execute our strategic vision. We believe we have taken appropriate steps to strengthen our balance sheet and liquidity position that underpins our multi-year transformational growth strategy.”

Larson said he was confident that the company’s strong brand recognition, coupled with its turnaround efforts and value accretive initiatives, will position it to continue down the pathway to stabilize and transform the business.

Key Transaction Terms
The Amendment, which became effective on June 13, 2025, reallocated and restructured the Borrower’s debt under the Credit Agreement to provide a revolving credit facility with commitments equal to $90.0 million; a new term loan facility in an aggregate principal amount equal to $240.0 million; and the pay-down by the Borrower of $136.5 million of revolving loans and $32.5 of existing term loans outstanding as of June 13, 2025. As a result, as of June 13, 2025, the company’s total outstanding debt under the revolving facility was $19.7 million, and the company’s total outstanding debt under the new term loan facility was $240.0 million. In addition, the Amendment extends the stated maturity of the revolving loans and the new term loans to June 30, 2028.

Additional terms of the Amendment are set forth in the company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 16, 2025.

Advisors
Kirkland & Ellis LLP served as legal counsel, Lazard served as financial advisor, and AlixPartners served as operational advisor to the company.

Image courtesy Oru / Solo Brands, Inc.