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LBC CREDIT PARTNERS WAS NAMED IN THE ABF JOURNAL'S ENEWS PUBLICATION
2012-04-03
LBC Credit Partners was named in the ABF Journal’s Enews publication "LBC Credit Partners Hires Rassin as Director in Chicago Office,” regarding the recent announcement of the hiring of Ryan R Rassin.
Read more at www.abfjournal.com/story.asp?id=36670.LBC CREDIT PARTNERS HIRES RYAN R. RASSIN AS DIRECTOR IN CHICAGO OFFICE
2012-04-03
PHILADELPHIA, PA, April 3, 2012- LBC Credit Partners, a leading provider of financing solutions to middle market companies, announced that Ryan R. Rassin has been hired as a Director in the firm's Chicago office.
Ryan will be primarily responsible for originating, structuring and executing new debt investments for LBC. He has nearly 15 years of leveraged lending and corporate finance experience and possesses considerable transaction expertise, having led investments and transactions for middle-market companies, including asset-based loans and senior and junior cash flow loans.
Prior to joining LBC, Ryan spent over five years at Orchard First Source Capital, where he was responsible for sourcing and executing middle market cash flow financings and was a team leader with responsibility for a portfolio of accounts. Prior to Orchard First Source Capital, he spent nearly 10 years at Bank of America Business Capital.
Mr. Rassin earned an MBA in Finance and Strategy from the University of Chicago Booth School of Business and a Bachelor of Science degree in Accountancy from the University of Illinois. Ryan received his CPA certification in 1995.
"We're delighted to have Ryan join us. He adds depth to our team and will augment our presence in the Midwest and Southwest," said Allan Allweiss, a Managing Director at LBC. "Ryan will be instrumental in helping LBC deploy capital in middle market transactions."
About LBC Credit Partners
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt and equity co-investments. For additional information please visit www.lbccredit.com.LBC CREDIT PARTNERS PROVIDES CREDIT FACILITIES TO FOREST RESOURCES
2012-03-06
LBC Credit Partners and GarMark Partners, leading providers of financing solutions to middle market companies, announced they were Co-Lead Arrangers and Co-Documentation Agents for $48 million in credit facilities to Forest Resources, LLC, an Atlas Holdings company and manufacturer of recycled paper and packaging products. The credit facilities consisted of a $38 million second lien term loan and $10 million in preferred equity. Proceeds were used to refinance existing debt and consolidate the company's Canadian and U.S. debt under one facility.
"It was a pleasure working with both LBC and GarMark," said Tim Fazio, Managing Partner at Atlas Holdings. "This refinancing will help support Forest Resources' growth by optimizing its debt and equity capital structure."
"We are very happy to play a part in the continued growth and success of Forest Resources," added Homyar M. Choksi, Managing Director with LBC. "This also goes a long way in furthering the strong relationship we have with Atlas."
"GarMark is pleased to be investing again with Atlas, a firm with which we've had a long relationship," said Steven C. Pickhardt, Managing Principal with GarMark. "This was also an opportunity to support a top-notch management team at Forest Resources."
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. For additional information on LBC, please visit www.lbccredit.com.
GarMark Partners, headquartered in Stamford CT, is a leading provider of mezzanine debt and structured equity capital for a range of sponsored and unsponsored transactions involving middle market companies. For additional information on GarMark, please visit www.garmark.com.
A diversified manufacturer of recycled paper and packaging products with facilities in the United States and Canada, Forest Resources was formed in March 1999 as Atlas Holdings' first operating company when it acquired Hartford City Paper. A holding company that employs 600 people and generates more than $200 million of revenues from six facilities throughout North America, Forest Resources is engaged in manufacturing industrial and consumer packaging products such as recycled corrugated medium, recycled specialty packaging papers, recycled boxboard, corrugated boxes and consumer folding cartons.
Atlas Holdings owns and operates more than 70 facilities with nearly 8,000 employees worldwide. Its businesses are engaged in a broad spectrum of industries, including food and agriculture, wood products and building materials, pulp and paper manufacturing, packaging, capital equipment, and industrial and business services. Atlas Holdings specializes in the purchase and revitalization of middle-market companies in distress or facing complex issues, including bankruptcy reorganizations, restructurings and challenging corporate divestitures. Atlas works closely with its operating partners and management teams to build strong standalone companies that can sustain long-term success. Please visit www.atlasholdingsllc.com for additional information.
LBC CREDIT PARTNERS SUPPORTS PURCHASE BY HALIFAX MEDIA HOLDINGS
2012-01-31
LBC Credit Partners and Crystal Financial LLC, announced they provided a $74.2 million senior secured term loan in support of Halifax Media Holdings LLC's purchase of The New York Times Company Regional Media Group. The two financing companies served as Co-lead Arrangers for the deal, while LBC is the Administrative Agent. Halifax, a Stephens Capital Partners portfolio company, purchased a total of 16 newspapers and other related businesses in the transaction for about $143 million.
The financing structure put into place by LBC and Crystal is secured by a first lien on the real estate properties (consisting of office space and printing facilities) and intellectual property, as well as a springing first lien on equipment and a second lien on the remaining assets. The complex capital structure also included a senior revolving credit facility, a mezzanine term loan, other real estate debt, certain real estate sale-leaseback transactions, and cash equity provided by Stephens Capital Partners and its equity partners.
"The experience of LBC and Crystal was instrumental in closing a rather complex deal," said Noel Strauss, Managing Director at Stephens Capital. "They were meticulous in creating a structure around the many unique factors involved, both in terms of collateral as well as the specific needs of all involved parties."
"We worked closely and diligently with both the Halifax and Stephens management teams to deliver on this high-profile deal," added John Jadach, Director with LBC. "As always, our aim was to develop mutually acceptable financing terms for all parties involved, a goal we met successfully."
"We are pleased to partner with LBC to provide a highly structured and complex financing to Stephens and Halifax" explained Andrew Hettinger, Managing Director at Crystal Financial. "Throughout our underwriting, we were impressed with the industry expertise of Stephens and the management team of Halifax and their collective history of acquiring and profitably operating regional newspapers located in smaller communities."
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, bifurcated lien, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. For additional information and media contacts please visit www.lbccredit.com.
Crystal Financial is an independent commercial finance company that provides senior and junior secured revolvers and term loans for both asset-based and cash flow financings ($10 million to $150 million) to middle-market companies. Its team of experienced, responsive professionals have underwritten, closed and managed more than $20 billion in secured debt commitments across a wide range of industries. For more information and media contacts please visit www.crystalfinco.com.
Stephens Capital Partners is a family-owned private equity fund that for over 50 years has been focused on long-term value creation in its investments. Stephens is highly flexible with regard to industries and transaction structures; looking for exceptional companies with a clear vision of growth. For additional information please visit www.stephens.com.
Founded in 2010, Halifax Media is headquartered in Daytona Beach, Florida. The company's investment group includes Stephens Capital Partners LLC, Jaarsss Media, and Redding Investments. Halifax's strategy is to invest long-term capital in quality companies positioned in strong markets that are closely connected to the community. For additional information please visit www.halifaxmediagroup.com.LBC CREDIT PARTNERS SUPPORTS KPS CAPITAL WITH REFINANCING OF AMERICAN & EFIRD
2012-01-18
NEW YORK, January 18, 2012
LBC Credit Partners, a leading provider of financing solutions to middle market companies, announced it is serving as Administrative Agent for a Bifurcated Lien Term Loan to American & Efird (“A&E”), one of the world’s leading manufacturers of sewing thread, embroidery yarns and technical textiles for worldwide industrial markets. The facility was used primarily to repay debt incurred in connection with last October’s acquisition of A&E by KPS Capital Partners.
“We are excited to be working with a global leader like A&E and pleased to further our relationship with KPS Capital Partners,” added Jeffrey Blumin, Managing Director with LBC. “Entering 2012, we are poised to continue providing middle market companies and private equity groups with flexible, thoughtful and timely financial solutions.”
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, bifurcated lien, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. For additional information please visit www.lbccredit.com.
American & Efird, Inc. is one of the world's largest global manufacturers and distributors of premium industrial sewing thread, embroidery thread and technical textiles, produced from natural and synthetic fibers. Producers of apparel, automotive components, home furnishings, medical supplies and footwear rely on A&E industrial sewing thread to manufacture their products. Customers select A&E as the preferred choice for industrial sewing thread, embroidery thread and technical textiles because of A&E’s dedication to providing its customers with the finest products and services, at the highest quality, delivered globally. Please visit A&E at www.amefird.com.
KPS Capital Partners, LP is the manager of the KPS Special Situations Funds, a family of private equity funds with over $2.7 billion of assets under management focused on constructive investing in restructurings, turnarounds and other special situations. KPS has created new companies to purchase operating assets out of bankruptcy; established stand-alone entities to operate divested assets; and recapitalized highly leveraged public and private companies. The KPS investment strategy targets companies with strong franchises that are experiencing operating and financial problems. KPS invests its capital concurrently with a turnaround plan predicated on cost reduction, capital investment and capital availability. Typically, the KPS turnaround plan is accompanied by a financial restructuring of the company's liabilities. The KPS investment strategy and portfolio companies are described in detail at the firm's website: www.kpsfund.com.implements customized business improvement programs in all portfolio companies that reduce operating expenses, increase profitability and encourage profitable growth.LBC CREDIT PARTNERS A DIAMOND SPONSOR, PANEL MODERATOR OF CFA ASSET-BASED CAPITAL CONFERENCE
2012-01-17
LBC Credit Partners, a leading provider of financing solutions to middle market companies, announced it is a Diamond level sponsor of The Commercial Finance Association’s Asset-Based Capital Conference, being held in Las Vegas January 17-18, 2012. Additionally, Allan Allweiss, Managing Director with LBC, will moderate a panel discussion.
Mr. Allweiss will moderate the breakfast panel discussion entitled, “Where Worlds Collide – Middle-Market Leveraged Loans vs. ABL”, which covers the various considerations for borrowers and their advisors when consider competing proposals from asset based and cash flow lenders.
The conference itself is billed as THE event for the key players in middle-market leveraged finance, with sessions looking at current market trends, key drivers of new business and a look at what’s ahead in 2012 as well as numerous networking events.
LBC’s investment in the conference sponsorship and it participation in the panel, demonstrates the firm’s ongoing commitment to serving the needs and interests of companies and intermediaries in the middle market space.
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. For additional information please visit www.lbccredit.com.
LBC CREDIT PARTNERS PROVIDES $19.5 MILLION FACILITY TO HEAT TRANSFER PRODUCTS GROUP
2011-11-10
LBC Credit Partners, a leading provider of financing solutions to middle market companies, announced it provided a $19.5 million senior secured term loan to Heat Transfer Products Group, LLC (HTPG). The company, a manufacturer of commercial refrigeration equipment and portfolio company of Monomoy Capital Partners, primarily used the term loan to provide a dividend to the equity holders.
"LBC delivered as promised on this deal," said Justin Hillenbrand, Partner, Monomoy Capital Partners. "They were quick to respond and provided a structure that worked to get us the result we needed."
"We are happy to establish this relationship with HTPG and further strengthen our relationship with Monomoy," added Homyar M. Choksi, Managing Director with LBC. "LBC is committed to providing middle market companies and private equity groups with flexible, well executed and timely financial solutions."
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. For additional information please visit www.lbccredit.com.
HTPG, which is located in Scottsboro, Alabama produces commercial, institutional, and industrial products including condensing units, evaporators, air cooled condensers, surface and case coils for OEMs, custom air handling units, unit coolers, and compressor racks for food service application and complete refrigeration system packages. HTPG offers a complete product offering of energy efficient heat transfer equipment sold under recognized premium brands; Russell, Witt, Kramer, and ColdZone. For additional information please visit www.htpgusa.com.
Monomoy Capital Partners is a private equity firm with $700 million of assets under management that makes controlling investments in middle market companies. The Fund has completed 33 transactions in the smaller end of the middle market over the past five years and currently owns 11 businesses that collectively employ more than 5,000 people. Monomoy implements customized business improvement programs in all portfolio companies that reduce operating expenses, increase profitability and encourage profitable growth. For additional information on Monomoy please visit www.mcpfunds.com.LBC CREDIT PARTNERS SUPPORTS ACQUISITION BY ASSISTIVE TECHNOLOGY GROUP (ATG)
2011-10-13
LBC Credit Partners, a leading provider of financing solutions to middle market companies, announced it was Co-Lead Arranger and Syndication Agent for a senior secured credit facility for Assistive Technology Group, Inc. (d/b/a ATG Rehab ["ATG"]), a provider of assistive and rehabilitative technology equipment, systems, and supplies. ATG, a portfolio company of Audax Private Equity, used the facility to refinance existing debt and fund the acquisition of Baltimore, MD - based Chesapeake Rehab Equipment, Inc.
The senior secured credit facility consisted of a revolver, term loan and acquisition tranche; a structure that allows for adequate liquidity for future growth, both organic as well as through acquisitions.
"LBC was an important partner in this transaction," said Brian Doherty, a Vice President with Audax. "Their understanding of ATG's current and future needs helped us get to a structure that works very well."
"ATG is a premier company in a growing industry," added Homyar M. Choksi, Managing Director with LBC. "We are pleased to establish this new relationship with their management as we continue our important association with Audax."
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. For additional information please visit www.lbccredit.com
ATG Rehab is one of North America’s leading rehab equipment providers of wheelchairs and mobility equipment with U.S. locations coast to coast. Established in 1999, the ATG Rehab family of companies is privately held with over 41 locations servicing 24 states and is known for customized customer and outstanding service. For additional information please visit www.atgrehab.com
Audax Group is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax Group manages in excess of $4.8 billion of equity, mezzanine debt, and senior loan capital. Audax Private Equity invests over $2.4 billion of equity capital in control acquisitions of lower-middle market companies across a wide range of industries. For additional information please visit www.audaxgroup.com
LBC CREDIT PARTNERS AN ACTIVE PRESENCE IN UPCOMING CONFERENCE SEASON
2011-09-28
LBC Credit Partners, a leading provider of financing solutions to middle market companies, announced several sponsorships and panel participations in industry conferences for the 2011 Fall season, including the Distressed Debt Conference, as well as the Annual Conventions for the Turnaround Management Association (TMA) and the Commercial Finance Association (CFA).
The firm’s financial support and thought leadership to these important industry gatherings is a direct reflection of its prominent role as a provider of financial solutions to companies and intermediaries alike.
LBC Credit Partners will be featured at the following industry events:
The Distressed Debt Conference 2011
October 3-4, 2011
W Hotel
New York City
Homyar Choksi, Principal
Panel Speaker: Examining the Leveraged Loan Market www.dealflow.com
2011 TMA Annual Convention
October 25–27, 2011
Hilton Hotel
San Diego, CA
Opening Reception Sponsor
www.turnaround.org
CFA Annual Convention
November 16-18, 2011
Marriot Marquis
New York City
John Brignola,Partner
Panel Speaker: Funding the Gap:Back to the Future
www.cfa.com
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. For additional information please visit www.lbccredit.com.LBC CREDIT PARTNERS ANNOUNCES PROMOTIONS AND EXPANSION OF OPERATIONS TEAM
2011-09-07
LBC Credit Partners, a leading provider of financing solutions to middle market companies, today announced several promotions and new hires that reflect the firm's continued growth in the middle market space. John Jadach has been promoted to Director in the firm, while Jonathan Schor and Michael Hertz have each been promoted to Senior Associate. The firm also announced the hiring of Ryan Adams and Michael Gordon as Analysts in research and underwriting.
John Jadach joined LBC in 2010 as a Vice President in deal execution. Since his hiring he has been instrumental in executing over $350 million in new transactions and portfolio refinancings.
Jonathan Schor has been an Analyst in LBC's portfolio group since joining the firm in mid 2008. Over that time he has assumed primary responsibility for 10 credits totaling over $250 million in outstandings.
Michael Hertz also joined LBC in 2008 as an Analyst, where he has underwritten $200 million in new transactions. He has also contributed to LBC's internal quantitative analytical efforts by designing several models used by the firm for portfolio management purposes.
New hires Ryan Adams and Michael Gordon will now be responsible for underwriting new transactions, supporting portfolio managers and contributing to LBC's overall research efforts. Prior to joining LBC, Ryan Adams was a Senior Investment Analyst at John Hancock in Boston, where he was responsible for covering the paper and forestry industries for the insurance company's proprietary investment portfolio. He holds a B.A. in mathematics from Colby College and is a CFA Charterholder. Prior to joining LBC, Michael Gordon was an Analyst with Citigroup's Finance and Strategy Group in New York, where he was responsible for tracking the investment banking division's financial performance. He holds a B.S. in finance from Villanova University.
"We are happy to welcome Ryan and Michael, two outstanding young analysts to help support our senior investment professionals and underwriters," said Tod Trabocco, a Managing Director at LBC. “We also congratulate John, Jon and Mike Hertz on their promotions.”
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. For additional information please visit www.lbccredit.com.
LBC CREDIT PARTNERS PROVIDES $10 MILLION SENIOR TERM LOAN B FOR THE RECAPITALIZATION OF NOT YOUR DAUGHTER’S JEANS
2011-08-03
LBC Credit Partners, a leading provider of financing solutions to middle market companies, today announced that it was the sole investor of the Term Loan B as part of an $80 million senior credit facility arranged for the recapitalization of NYDJ Apparel, LLC (NYDJ), a global manufacturer and marketer of upscale jeans, and portfolio company of Falconhead Capital LLC.
LBC’s facility, along with the revolver and term loan A, rebalances the company’s capital structure, delivers them enhanced flexibility, and provides a distribution to the company’s shareholders.
"LBC was a vital partner in ensuring this transaction closed on time,” said David S. Moross, Chairman and Chief Executive Officer of Falconhead Capital. “They responded quickly and worked diligently to meet our expedited closing schedule."
“We are pleased to support Falconhead and develop this important relationship with NYDJ,” added Homyar M. Choksi, Managing Director with LBC. “This is the type of long-term relationship that defines our business.”
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. LBC follows a “lend and hold” strategy, and typically invests $10 million to $50 million per transaction in support of acquisitions, growth strategies, refinancings, recapitalizations, and restructurings in a wide range of industries located throughout North America. LBC has more than $1.4 billion of capital under management with offices in Philadelphia, Chicago and New York. For additional information please visit www.lbccredit.com.
NYDJ Apparel, LLC is global apparel designer, manufacturer and marketer of upscale jeans and pants created specifically to fit the fashion-conscious woman typically age 35 and above. The Company’s products are sold at leading department store retailers including Nordstrom, Bloomingdale’s, Macy’s, Dillard’s, Lord & Taylor, among others. The Company also sells to over 1,000 specialty stores nationally and internationally in 19 countries including Canada, Ireland, United Kingdom, and Netherlands. For additional information please visit www.nydj.com.
Falconhead Capital, LLC, with $500 million of assets under management, is a private equity firm established in 1998 to provide investors with significant long-term capital appreciation by investing globally in consumer-focused businesses in the sport, leisure, lifestyle, and media categories. In addition to NYDJ, Falconhead Capital's current portfolio investments include Competitor Group, Inc., Extreme Fitness, Inc., Our365 (f/k/a Growing Family), Escort, Inc., and Premier, Inc. For additional information please visit www.falconheadcapital.com.
LBC CREDIT PARTNERS SUPPORTS FRONTENAC IN THE RECAPITALIZATION OF WENNER BREAD PRODUCTS
2011-07-26
LBC Credit Partners, a leading provider of financing solutions to middle market companies, announced it acted as the sole lender and administrative agent for a $36.5 million one-stop senior credit facility to support Frontenac Company’s recapitalization of Wenner Bread Products, Inc., a leading manufacturer of high-quality frozen, par-baked, and fully-baked dough, breads and rolls. LBC also made an equity co-investment in Wenner.
The credit facility supported Frontenac’s purchase of Wenner, a family-owned wholesale bakery founded in 1956. Using their CEO1ST investing approach, Frontenac partnered with Jeff Montie, former President at Kellogg’s, to identify potential opportunities and help perform diligence for the transaction. Mr. Montie also assumed the role of CEO of Wenner post close.
“LBC was instrumental in helping us complete this investment and in navigating the challenges associated with investing in a family owned business. Their structuring experience, flexibility and commitment to a successful close are what made them a truly valuable partner. We look forward to working with them them as our financial partner,” said Ron Kuehl, Principal, Frontenac Company.
“We’re pleased to support Frontenac in their purchase of Wenner,” added Douglas Goodwillie, a Director at LBC. “This transaction gives us the opportunity to partner with a top tier private equity firm in their purchase of a family business with a fifty-year history.”
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. LBC follows a “lend and hold” strategy, and typically invests $10 million to $50 million per transaction in support of acquisitions, growth strategies, refinancings, recapitalizations, and restructurings in a wide range of industries located throughout North America. LBC has more than $1.4 billion of capital under management with offices in Philadelphia, Chicago and New York. For additional information please visit www.lbccredit.com or contact Douglas Goodwillie at 312-263-0319.
Frontenac Company is a Chicago-based private investment firm founded in 1971. The firm invests in high-quality, closely-held companies, through its CEO1ST investment approach: partnering with proven executives to acquire and grow successful mid-sized companies. For more information visit the Frontenac website www.frontenac.comLBC CREDIT PARTNERS PROVIDES A ONE-STOP $120 MILLION ACQUISITION FACILITY FOR MCMC, LLC, PORTFOLIO COMPANY OF MVP CAPITAL PARTNERS
2011-07-13
LBC Credit Partners, a leading provider of financing solutions to middle market companies, today announced that they agented a one-stop $120 million senior credit facility for MCMC LLC, a diversified managed care and cost containment provider, in support of their acquisition of Patriot Risk Management, Inc.'s (PRMI) managed care service business.
MCMC, a portfolio company of MVP Capital Partners, developed a relationship with PRMI over five years ago when it began providing a bill review and PPO network processing solution for the company. These activities later evolved into a full service care management program that has resulted in increased network penetration, enhanced medical savings, and improved claims outcomes.
"We are very excited about PRMI becoming a part of the MCMC platform,” said David Pegg, Partner at MVP Capital. “This is an important step in further perpetuating the managed care service relationship with Patriot National Insurance Group."
The senior facility—for which LBC is co- Lead Arranger and Administrative Agent —supported the acquisition, provides for ongoing working capital, and facilitates growth. In addition to agenting the senior credit facility, LBC also co-invested in the equity.
"LBC has now been a valuable partner of ours on two transactions," said Mike Lindberg, President and CEO of MCMC. “This acquisition significantly expands upon MCMC's seven years of investing in applications, networks, and integrated processing solutions.”
“We are pleased to continue our support of MVP and MCMC with their growth plans,” added John Brignola, Partner with LBC. “This is the type of long-term relationship that defines our business.”
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. For additional information please visit www.lbccredit.com.
MCMC is a national provider of managed care and cost containment services, headquartered in Boston, MA. MCMC's clients include managed care companies, workers' compensation, auto, liability, disability and group health insurers, as well as TPAs, PBMs, self-insured employers, labor unions, law firms and state agencies. For additional information please visit www.mcmcllc.com.
MVP Capital Partners is a private equity firm based in Radnor, PA, just outside of Philadelphia, which focuses on investing in middle market companies with $10-100 million in revenues through buyouts, recapitalizations and expansion capital financings. For more information, visit www.mvpcapitalpartners.com.
LBC CREDIT PARTNERS SUPPORTS CHICAGO GROWTH PARTNERS
2011-04-12
LBC Credit Partners, a leading provider of financing solutions to middle market companies, announced the funding of a $15 million term loan to support the refinancing of Chicago Growth Partners' portfolio company Union Corrugating Company. Union Corrugating is a leading distributor and light manufacturer of metal roofing systems and other metal building products. Union Corrugating has a sixty-five year history and services over 1,000 commercial customers from ten production facilities throughout the country.
"We are pleased to have provided this additional financing that will allow Union Corrugating's management team and Chicago Growth Partners to meet their strategic objectives for their business," said Allan Allweiss, a Managing Director with LBC. "We look forward to working with Chicago Growth Partners and the terrific Union Corrugating management team."
Kristina Heinze, of Chicago Growth Partners, said "We are excited to partner with LBC to support the continued success of Union Corrugating. Together we will provide management with the operational and financial resources to continue providing the high level of customer service Union Corrugating is known for while having the flexibility to pursue strategic growth opportunities."
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments to companies with EBITDA generally greater than $10 million. LBC has more than $1.4 billion of capital under management with offices in Philadelphia, Chicago and New York. For additional information please visit www.lbccredit.com.
Chicago Growth Partners focuses on lower middle market growth companies in the following sectors: Education, Business and Consumer Services; Healthcare Products and Services; and Industrial Growth. CGP has focused on these industries for over 21 years, with a combined 100+ years of experience in these three areas. Located in Chicago, CGP has a solid record of returns spanning two decades with a combined $1.2 billion in investments under management through five private equity funds. For more information visit the Chicago Growth Partners website www.cgp.com.
LBC CREDIT PARTNERS EXCEEDS $400 MILLION IN LOAN ORIGINATIONS
2011-01-19
LBC Credit Partners is pleased to announce that its new loan originations for 2010 exceeded $400 million. Over the past 12 months LBC has completed new debt investments in over 20 industries including the health care, industrial and consumer sectors.
"We are grateful for the market's continued confidence in LBC as a trusted middle market debt provider and the opportunity to partner with so many esteemed equity investors, management teams and lenders.
“Our reputation has been built on integrity, consistency and stability," commented John Brignola, a Founding Partner with LBC. "Our ability to fund into various levels of the capital structure and our long term capital base enable us to be an active and flexible lender to the middle market."
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments to companies with EBITDA generally greater than $10 million. LBC follows a long-term approach to investing adhering to a "lend and hold" strategy and typically invests $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings in a wide range of industries located throughout North America. LBC has more than $1.4 billion of capital under management with offices in Philadelphia, Chicago and New York. For additional information please visit www.lbccredit.com or contact John Brignola at 215-972-8901.
LBC CREDIT PARTNERS PROVIDES SENIOR CREDIT FACILITY TO COMPASS AUTOMOTIVE GROUP
2010-10-18
LBC Credit Partners, a leading provider of financing solutions to middle market companies, today announced the funding of a $24 million senior secured term loan to support the refinancing of Compass Automotive Group, a manufacturer of safety-critical automotive components cast from aluminum and magnesium.
“We are pleased to have structured a financing solution that supports Monomoy Capital Partners and management’s growth initiatives for Compass,” said Homyar M. Choksi, Principal at LBC Credit Partners. “At LBC, we work closely with private equity sponsors to provide flexible solutions to support various types of middle market transactions.”
“We are very happy with LBC’s support for and role in this refinancing which has positioned Compass for continued success by giving it the flexibility to pursue strategic goals and operational improvements,” said Nate Bard, Vice President of Monomoy Capital Partners, the company’s equity sponsor.
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, mezzanine debt and equity co-investments to companies with EBITDA generally greater than $10 million. LBC follows a long-term approach to investing adhering to a “lend and hold” strategy and typically invests $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC has more than $1 billion of capital under management and has made investments in a wide range of industries located throughout North America. For additional information please visit www.lbccredit.com.
Monomoy Capital Partners, L.P. is a private equity fund that makes controlling investments in middle market companies. With $640 million under management, the Fund has completed 28 transactions in the smaller end of the middle market over the past four years and currently owns 11 businesses that collectively employ more than 5,000 people. Monomoy implements customized business improvement programs in all portfolio companies that reduce operating expenses, increase profitability and encourage profitable growth. For additional information on Monomoy and its portfolio companies, please visit www.mcpfunds.com.
LBC CREDIT PARTNERS HIRES JEFFREY L. BLUMIN AS MANAGING DIRECTOR OF NEW YORK OFFICE
2010-09-22
LBC Credit Partners, a leading provider of financing solutions to middle market companies, announced that Jeffrey L. Blumin has been hired as a Managing Director in the firm’s New York office.
Jeff will be primarily responsible for originating, structuring and executing new debt investments for LBC. He has nearly 20 years of leveraged lending and corporate finance experience and possesses considerable transaction expertise, having led nearly $25 billion in investments and transactions for middle-market companies, including asset-based loans; senior and junior cash flow loans; high yield and mezzanine securities; and preferred and common stock.
Prior to joining LBC, Jeff spent three years at Marathon Asset Management, where Mr. Blumin established the credit origination business focused on the middle-market private equity community. Prior to Marathon, he spent 14 years at JPMorgan Chase, where Jeff’s responsibilities included the origination and execution of public and private debt and equity financings, as well as merger and acquisition advisory services, with a primary focus on leveraged acquisitions and recapitalization transactions for middle market companies and private equity firms.
Mr. Blumin earned an MBA in Finance from New York University, Stern School of Business and a Bachelor of Science degree from Syracuse University’s Newhouse School of Public Communications.
"We’re delighted to have Jeff join us. He adds depth to our team and augments our presence in the Northeast," said John Brignola, a founding partner at LBC. "With over $1 billion of long-term capital to invest, Jeff will be instrumental in helping LBC deploy the capital in middle market transactions."
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. For additional information please visit www.lbccredit.com.THE SKY'S THE LIMIT FOR LBC CREDIT PARTNERS
2010-09-05
High atop the Cira Centre in downtown Philadelphia, big things are afoot. Though it doesn’t happen that often, today, the entire team that makes up middle-market lending house LBC Credit Partners is in the office; and there is the feeling of something electric in the air. ABF Journal decided to pay the company a visit to find out why...
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LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments to companies with EBITDA generally greater than $10 million. LBC follows a long-term approach to investing adhering to a "lend and hold" strategy and typically invests $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC has more than $1 billion of capital under management and has made investments in a wide range of industries located throughout North America.LBC CREDIT PARTNERS PROVIDES $4.5 MILLION ONE-STOP CREDIT FACILITY FOR MCMC, LLC, A LEADING MANAGED CARE AND COST CONTAINMENT COMPANY
2010-07-20
LBC Credit Partners, a leading provider of financing solutions to middle market companies, today announced the funding of a $42.5 million one-stop facility to support the refinancing of MCMC LLC, a diversified managed care and cost containment provider primarily servicing insurance companies, third party administrators, self insured employers and governmental agencies.
“We are delighted to support the growth initiatives of such a well positioned company like MCMC,” said John Brignola, Co-Founding Partner of LBC. “This transaction is further confirmation of our broad array of financing solutions for middle market companies and private equity firms.”
“Working with LBC has been a pleasure, they have been a creative and responsive partner throughout this process,” said Mike Lindberg, President and CEO of MCMC.
“LBC has been a dependable and trusted partner to our firm for many years, and we look forward to continuing this relationship,” said Robert Brown, Managing Partner from MVP Capital Partners, the company’s equity sponsor.
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, mezzanine debt and equity co-investments to companies with EBITDA generally greater than $10 million. LBC follows a long-term approach to investing adhering to a “lend and hold” strategy and typically invests $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC has more than $1 billion of capital under management and has made investments in a wide range of industries located throughout North America. For additional information please visit www.lbccredit.com.
MCMC is a national provider of managed care and cost containment services, headquartered in Boston, MA. The core service offering includes medical bill review, specialty bill audit, telephonic case management, UR, peer review, independent medical exams, medicare-set-aside, surveillance and litigation support. Our management team has long-term industry relationships, and extensive operating experience providing flexible service solutions through proprietary technology. MCMC's clients include managed care companies, workers' compensation, auto, liability, disability and group health insurers, as well as TPAs, PBMs, self-insured employers, labor unions, law firms and state agencies. For additional information please visit www.mcmcllc.com or email info@mcmcllc.com.
MVP Capital Partners is a private equity firm based in Radnor, PA, just outside of Philadelphia, which focuses on investing in middle market companies with $10-100 million in revenues through buyouts, recapitalizations and expansion capital financings. Founded in 1987, the firm manages over $200 million in capital. MVP leverages its professionals’ expertise and its capital by partnering with accomplished management teams to build successful companies. Deploying a sector-diversified portfolio strategy, MVP invests in industries including business services, healthcare, publishing and media, manufacturing, and consumer-related companies. For more information, visit www.mvpcapitalpartners.com.
LBC CREDIT PARTNERS PROVIDES FINANCING TO SUPPORT MIDDLE MARKET PRIVATE EQUITY INITIATIVES
2010-06-24
LBC Credit Partners, a leading provider of financing solutions to middle market companies, today announced funding two loans supporting private equity sponsor initiatives. The financings consisted of a $10 million mezzanine loan for a recapitalization/acquisition by a manufacturer of branded and private label disposable infection prevention products for the medical, dental and acute care markets, and a $15 million unitranche loan to support the acquisition of a leading manufacturer of automotive air conditioning products.
“These transactions mark our 6th and 7th financings this year supporting middle market equity sponsors. Our broad range of financing solutions for the middle market provides sponsors with flexible alternatives to facilitate the achievement of long-term objectives for their portfolio companies,” said John Brignola, a partner with LBC.
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments to companies with EBITDA generally greater than $10 million. LBC follows a long-term approach to investing adhering to a “lend and hold” strategy and typically invests $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC has more than $1 billion of capital under management and has made investments in a wide range of industries located throughout North America.
LBC CREDIT PARTNERS SUPPORTS AUDAX PRIVATE EQUITY IN THE REFINANCING OF MAGNETIC TECHNOLOGIES CORPORATION
2010-05-25
LBC Credit Partners, a leading provider of financing solutions to middle market companies, announced the funding of a $45 million unitranche loan to support the refinancing of Audax Private Equity's portfolio company Arnold Magnetic Technologies Corporation ("Arnold"). Arnold is one of the largest magnetic product manufacturers in the world producing a wide range of both permanent and soft magnetic products and assemblies at facilities in the United States, the United Kingdom, Switzerland and China. Arnold has thousands of customers within markets that include consumer, industrial, medical, military, aerospace and telecommunications.
"We are pleased to have provided a one-stop financing solution that will allow Arnold's management team and Audax to meet the growth objectives for their business," said Homyar Choksi, a Managing Director with LBC. "We look forward to working with Audax and the management team."
Oliver Ewald, Managing Director of Audax Private Equity, said "We are excited to partner with LBC to support the continued success of Arnold. Together we will provide management with the operational and financial resources to continue on their growth trajectory."
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments to companies with EBITDA generally greater than $10 million. LBC follows a long-term approach to investing adhering to a "lend and hold" strategy and typically invests $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC has more than $1 billion of capital under management and has made investments in a wide range of industries located throughout North America.
Audax Group, founded in 1999, is a leading investor in small cap and lower-middle market companies. With offices in Boston and New York, Audax manages in excess of $4.3 billion of equity, mezzanine debt, and senior loan capital. For more information visit the Audax Group website www.audaxgroup.com
LBC CREDIT PARTNERS PROVIDES FINANCING TO A PHARMACEUTICAL MANUFACTURER AND AN AUTOMOTIVE PARTS SUPPLIER
2010-04-19
LBC Credit Partners, a leading provider of financing solutions to middle market companies, today announced the funding of a $10 million junior secured loan to support the acquisition of a pharmaceutical company and a $15 million senior loan to fund the recapitalization of an automotive parts supplier. The pharmaceutical company is a manufacturer of private label, and store brand pharmaceutical products and the automotive supplier produces a wide range of critical parts for the transportation industry.
"We are pleased to play a role in supporting equity sponsors’ initiatives and providing capital to allow management teams to pursue their long-term growth objectives for their businesses," said John Brignola, a partner with LBC. "These transactions are successful examples of LBC’s broad range of financing solutions for sponsors and management teams and further confirmation of our commitment to middle market financing."
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments to companies with EBITDA generally greater than $10 million. LBC follows a long-term approach to investing adhering to a “lend and hold” strategy and typically invests $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC has more than $1 billion of capital under management and has made investments in a wide range of industries located throughout North America.
LBC CREDIT PARTNERS HIRES NEW VICE PRESIDENT IN DEAL EXECUTION
2010-03-15
LBC Credit Partners, a leading provider of financing solutions to middle market companies, today announced that John T. Jadach has been hired as a Vice President in the firm's Philadelphia office.
John will be primarily responsible for executing new debt investments for LBC. He has more than fifteen years of experience in principal investment, investment banking, commercial lending, and corporate risk management. Prior to joining LBC, John was a Vice President with JP Morgan's principal investments group, focusing on mezzanine transactions. He spent the four years prior working with JP Morgan's syndicated and leveraged finance group.
Prior to J.P. Morgan, John worked in Wachovia's Financial Institutions Group. He began his career in the insurance brokerage industry working for Aon and Marsh & McLennan. John earned an MBA from the University of Pennsylvania, Wharton School of Business and his BA from Temple University.
"We're excited to have John join our team. He will add immediate value to our execution of new opportunities", said Chris Calabrese, a partner at LBC. "Further, he has joined us at a great time with our recent closing of LBC II, a $645 million fund".
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments to companies with EBITDA generally greater than $10 million. LBC follows a long-term approach to investing adhering to a "lend and hold" strategy and typically invests $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC has more than $1 billion of capital under management and has made investments in a wide range of industries located throughout North America.LBC CREDIT PARTNERS RAISES $645 MILLION FOR FUND II, SURPASSING $400 MILLION TARGET
2010-02-01
LBC Credit Partners, a leading provider of financing solutions to middle market companies, today announced the closing of LBC Credit Partners II, L.P., with $645 million of committed capital. LBC II, a $645 million fund, follows the firm's successful $300 million fund I, established in 2005. LBC was supported by its existing investor base and was able to secure additional support from several new institutional partners.
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments to companies with EBITDA generally greater than $10 million. LBC follows a long-term approach to investing adhering to a "lend and hold" strategy and typically invests $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC has more than $1 billion of capital under management and has made investments in a wide range of industries located throughout North America.
