Patriot Capital Backs Milestone Buy
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Patriot Capital Backs Milestone Buy

patriot capital nf1Patriot Capital has provided subordinated debt to Aztec/Shaffer, a party and event equipment rental company, to support the July 2015 acquisition of the company by Milestone Venture Group from Todd Johnson who has owned the company since 1995.

aztec f2Aztec/Shaffer operates through two divisions – Aztec Events & Tents (AET) and Shaffer Sports & Events (SSE). AET – based in Houston – supplies event rental items (everything from tents to flatware) to corporate and private clients in the greater Houston area (www.aztecusa.com).  SSE – based in Birmingham, AL – provides rental equipment such as temporary structures, seating and interior furnishings to PGA Tour and Champions Tour events under an exclusive contract (www.shaffersports.com).

Patriot Capital invests senior and subordinated debt and equity in small and medium-sized privately-held companies that have annual revenues of $10 million to $200 million. Investment sizes range from $3 million to $20 million.  Patriot Capital has offices in Baltimore, Chicago and Dallas (www.patriot-capital.com).  Managing directors Patrick Hamner and Dan Yardley led the transaction for Patriot Capital.

Milestone Venture Group invests from $5 million to $30 million of equity in companies that have enterprise valuations from $20 million to $100 million. The firm was founded in 1997 by its Managing Director Kelly Williams and is headquartered in Houston (www.milestonevg.com).

Latek Capital – an investment bank that specializes on transactions in the equipment rental industry –  advised Aztec/Shaffer. Latek Capital is based north of Chicago in Lake Forest, IL (www.latekcapital.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 9-1-15

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