LBC Credit Backs Latest RLJ Equity Acquisition
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LBC Credit Backs Latest RLJ Equity Acquisition

LBC nf1Middle-market lender LBC Credit Partners has provided acquisition financing to back RLJ Equity Partners’ purchase of Phase One Consulting Group, a provider of information technology-based consulting services to US federal civilian agencies.

Phase One’s specialties include IT strategy, organizational transformation, strategic communications, process and business analysis, investment management, solution architecture, solution engineering, and cybersecurity.  The company was founded in 1997 and is headquartered in Alexandria, VA (www.pocg.com).

RLJ Equity Partners invests from $15 million to $30 million in companies valued between $50 million and $250 million. Target companies will have operating profits greater than $7 million and operating margins greater than 10%.  Sectors of interest include aerospace & defense; auto & transportation; business services; consumer retail; general industrial; and media & telecom.  RLJ Equity Partners was founded in 2006 by Robert L. Johnson in partnership with The Carlyle Group. The firm is headquartered in Bethesda, MD (www.rljequitypartners.com).

Mezzanine debt financing was provided by Enlightenment Capital (www.enlightencap.com) an aerospace, defense, and government focused investment firm based in the Washington, DC area. LBC Credit Partners and Enlightenment Capital also provided equity-co-investments to support the acquisition.

LBC Credit Partners is a provider of middle market financing to companies with EBITDAs generally greater than $10 million. Products include senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions. LBC invests from $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC has more than $1.75 billion of capital commitments and is headquartered in Philadelphia with additional offices in Chicago and Greenwich (www.lbccredit.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 2-25-15

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