RADNOR, PA, August 18, 2020 – LBC Small Cap, an affiliate of LBC Credit Partners, provided senior secured credit facilities to Avision Sales Group (“Avision” or the “Company”), a portfolio company of Osceola Capital (“Osceola”). The investment will support Avision’s acquisition of Apex Reps LLC (“Apex”), a leading provider of outsourced sales and marketing services for janitorial and sanitation manufacturers in the Midwest.
LBC Small Cap partnered with GarMark Partners to provide the senior secured credit facilities to Avision. LBC served as Agent and Sole Lead Arranger.
Avision is a full-service manufacturer’s representative agency specializing in the sales and marketing of products serving janitorial, sanitation, food service disposable, safety, equipment and supply industries. Avision has acquired five businesses since its inception, growing from a single location in 2017 to now covering 32 states and representing over $500 million in gross sales across a footprint that includes the Northeast, Mid-Atlantic, Midwest and South. Its product offerings include cleaning chemicals, hand hygiene, mops, mats, trash liners, gloves, takeout packaging, and disposable cutlery and tableware. More information can be found at www.avisionsales.com.
“We are excited to partner with Avision Sales Group and Osceola Capital on this investment,” said Don Rice, Partner at LBC Small Cap. “Avision is a dynamic and growing company with a long history of providing first-rate service to its manufacturer clients. The Company’s janitorial and sanitation and food service disposable products should experience increased demand in light of the COVID-19 pandemic.”
Osceola Capital is a Tampa-based private equity firm that invests in lower middle-market services companies, typically with EBITDA of $2 million to $10 million. Osceola has extensive experience partnering with management teams to execute buy-and-build strategies and drive long-term value creation.
About LBC Small Cap
LBC Small Cap is focused on originating, executing and managing senior secured, unitranche, junior debt, structured equity and equity co-investments in U.S.-based lower middle market companies. The LBC Small Cap team looks to deploy capital to support funded sponsors, independent sponsors, and family-owned businesses across a broad array of industries.
About LBC Credit Partners
LBC Credit Partners provides middle market and small-cap financing solutions supporting sponsored and non-sponsored transactions throughout the U.S. across a broad range of industries. With over $3 billion of capital commitments, we have provided in excess of $6.8 billion to over 241 issuers throughout our 15-year history. * LBC is headquartered in the Philadelphia area and has offices in Atlanta, Chicago, Los Angeles and New York. To learn more, visit www.lbccredit.com. *Information as of March 31, 2020.
About GarMark Partners
GarMark Partners provides direct lending and structured equity capital to a wide range of middle market companies and small businesses. Since GarMark’s founding in 1997, we have invested more than $1.5 billion in over 75 portfolio companies covering a wide range of industries and transaction types. We provide capital for sponsored as well as non-sponsored transactions through offices in Stamford, CT; Vero Beach, FL; and Detroit, MI. More information on GarMark may be found at www.garmark.com.
The Small Cap strategy, as well as any funds and investments related thereto, is managed by a licensed fund manager in the SBIC Program under the U.S. Small Business Administration, LBC Small Cap Management, L.P., which while owned by certain senior executives of LBC Credit Management, L.P. (“LBC Credit”), is separate and distinct from LBC Credit. For additional information, please contact [email protected]. With respect to LBC Credit Partners VI Feeder LP that are offered in Japan, LBC Credit Funding VI LP will provide to any member of the Japanese public a copy of such documents as are required to be made publicly available pursuant to Article 63 of the Financial Instruments and Exchange Act of Japan. Please contact [email protected] to request such documents.