LBC Credit Partners Supports Purchase by Centre Lane Partners

Jun 21, 2012
Deal announcements

LBC Credit Partners ("LBC"), a leading provider of financing solutions to middle market companies, announced they agented a $40 million senior secured term loan facility and provided $1.5 million of equity co-investment to support the purchase of LLFlex, LLC ("LLFlex") by Centre Lane Partners, LLC ("Centre Lane"). LBC was the term loan agent for the senior secured term loan facility which consisted of a $10 million term loan A and a $30 million term loan B. LLFlex is a market leader in developing, manufacturing, and supplying metals-based packaging and laminated materials to the tobacco, wire and cable, and building and construction markets. 

"It was a pleasure to have worked with Centre Lane on our first deal together," said Homyar M. Choksi, Managing Director with LBC. "We were very happy to play a part in their buyout of LLFlex and work through various complex capitalization considerations to get the deal done."

"We chose LBC because of their seasoned professionals, reputation in the industry and flexibility in working with us," said Nathan Richey, Managing Director at Centre Lane. "We were confident they would be able to deliver and we appreciated their expertise in structuring and executing the financing for the buyout."

Centre Lane Partners is a private investment firm focused on making debt and equity, control and non-control investments in North American middle market companies across a wide breadth of industries. Centre Lane targets companies with revenues between $20 and $500 million which have leading market positions and sustainable competitive advantages in their respective niches. The acquisition will enable Centre Lane to expand its portfolio in this industry.

LLFlex, LLC, formerly known as Louisville Laminating, is headquartered in Louisville, KY and serves customers throughout North, Central, and South America as well as Western Europe. The business employs over 140 people.