Tree Line Capital Partners was the provider of a first lien credit facility to support Huron Capital Partners’ acquisition last month of Direct Connect Logistix (DCL).
Indianapolis-based DCL has a network of pre-qualified carriers that are used to offer truckload, partial truckload, expedited freight, small parcel, and air freight brokerage services to customers that operate in the food and beverage, plastic containers and packaging, and consumer packaged goods industries (www.dclogistix.com).
DCL is led by CEO Roger Singh, President Greg Humrichouser, and Vice President John Leininger, and all three will continue to manage the business under Huron ownership.
“We’re very excited to be partnering with Huron Capital, Mr. Singh, Mr. Humrichouser and Mr. Leininger. DCL has a proven team with a strong track record of market leadership. We look forward to the partnership and supporting the growth of DCL,” said Jon Schroeder, Managing Partner of Tree Line.
Tree Line is a direct lender focused on providing first lien term loans, unitranche term loans and equity co-investments to North American-based lower middle market borrowers with at least $3 million of EBITDA. Since inception in October 2014, Tree Line has completed over 50 transactions representing over $720 million in loan commitments for acquisitions, recapitalizations, refinancings, expansion projects and other growth capital needs. Tree Line is headquartered in San Francisco with additional offices in New York and New Orleans (www.treelinecp.com).
“We appreciate Tree Line’s thoughtful and efficient approach,” said Michael Zukas, a Vice President at Huron Capital. “Tree Line spent considerable time upfront understanding the business and opportunity, which provided certainty to close.”
Huron Capital invests up to $70 million per transaction in middle-market companies that have revenues up to $200 million and EBITDAs of $5 million or more. Sectors of interest include specialty manufacturing, business services, consumer goods & services, and healthcare. Huron was founded in 1999 and has offices in Detroit and Toronto (www.huroncapital.com).
© 2018 Private Equity Professional | June 7, 2018