Houlihan Lokey Advises RideNow Group

Houlihan Lokey is pleased to announce the successful placement of a $220 million senior secured term loan for RideNow Group, Inc. (NASDAQ:RDNW) (RideNow). Proceeds from the transaction were used to refinance existing indebtedness, ensure ample pro forma liquidity for accretive M&A, and fund transaction fees and expenses. The transaction closed on September 25, 2026.

Founded in 1983 and headquartered in Chandler, Arizona, RideNow operates 47 dealership locations across 12 states, primarily in the high-growth Sunbelt region. The company sells new and pre-owned motorcycles, ATVs, UTVs, and personal watercrafts from leading OEMs, along with high-margin parts, accessories, service, finance, and insurance products.

In tandem with the refinancing, RideNow is in advanced discussions regarding a proposed $50 million senior secured asset-based lending (ABL) facility. The company expects to use a portion of the proceeds from the ABL facility to pay down a portion of the $220 million senior secured term loan balance, further lowering its cost of debt and optimizing its capital structure. The ABL transaction is expected to close in October 2026.

Houlihan Lokey’s Capital Solutions Group served as the exclusive placement agent for RideNow, advising the company on structuring, arranging, and negotiating its financing. Leveraging deep relationships with disciplined capital providers, Houlihan Lokey generated competitive tension among lenders, delivering a tailored financing solution that repaid the company’s existing lender and established a new institutional relationship supportive of its continued growth.

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