Levine Leichtman Capital Partners announced today that two of its portfolio companies – Tronair and Global Franchise Group – were recently recapitalized resulting in a significant return of capital to the firm’s limited partners.
Tronair raised a $50 million senior credit facility in May 2012. Proceeds of the transaction were used to refinance existing debt, pay a shareholder dividend, pay related fees and expenses and provide for on-going working capital needs of Tronair. The senior credit facility was provided by Bank of Montreal and Bank of Ireland.
Tronair is a designer, manufacturer, and seller of ground support equipment for business, commercial and military aircraft. Tronair’s product line is comprised of over 1,000 SKUs used in over 300 aircraft platforms. Customers include aircraft OEMs (Bombardier, Gulfstream, Embraer, Boeing and Airbus), fixed based operators, maintenance and repair providers, corporate hangars, commercial airlines, defense contractors and military airbases. The company is based in Holland, OH (www.tronair.com).
Global Franchise Group successfully increased its senior credit facility to $63.5 million in May 2012. Proceeds of the transaction were used to pay a shareholder dividend and pay related fees and expenses. The senior credit facility was provided by Bank of Montrea
l and NXT Capital.
Global Franchise Group is a brand management company that owns and manages a portfolio of franchised brands in the quick service restaurant industry and the retail footwear and accessories industry. These brands include Pretzelmaker, Great American Cookies, Marble Slab Creamery, MaggieMoo’s and The Athlete’s Foot. The company has over 1,500 franchised locations worldwide, primarily located in the United States, Canada, Latin America and Asia. The company is based in Atlanta, GA (www.globalfranchise.com).
Levine Leichtman Capital Partners manages approximately $5 billion of capital through private equity partnerships, distressed debt and leveraged loan funds. The firm is currently making new investments through Levine Leichtman Capital Partners IV, L.P., Levine Leichtman Capital Partners Deep Value Fund, L.P., and Levine Leichtman Capital Partners SBIC Fund, L.P. The firm is based in Los Angeles, CA with offices in Chicago, IL; Dallas, TX; and New York, NY (www.llcp.com).