LBC Credit Partners has agented a $40 million senior secured term loan facility and provided $1.5 million of equity co-investment to support the purchase of LLFlex, a metals-based packaging and laminated materials company, by Centre Lane Partners.
LBC was the term loan agent for the senior secured term loan facility which consisted of a $10 million term loan A and a $30 million term loan B.
“We chose LBC because of their seasoned professionals, reputation in the industry and flexibility in working with us,” said Nathan Richey, Managing Director at Centre Lane. “We were confident they would be able to deliver and we appreciated their expertise in structuring and executing the financing for the buyout.”
LLFlex, formerly known as Louisville Laminating, is a developer, manufacturer, and supplier of metals-based packaging and laminated materials to the tobacco, wire and cable, and building and construction markets. LLFlex serves customers throughout North, Central, and South America as well as Western Europe. The business employs over 140 people and is headquartered in Louisville, KY (no website found).
LBC Credit Partners is a provider of middle market financing including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments to companies with EBITDAs generally greater than $10 million. LBC invests from $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings. LBC has more than $1.4 billion of capital under management and has offices in Philadelphia, PA; Chicago, IL; and New York, NY (www.lbccredit.com).
“It was a pleasure to have worked with Centre Lane on our first deal together,” said Homyar Choksi, Managing Director with LBC. “We were very happy to play a part in their buyout of LLFlex and work through various complex capitalization considerations to get the deal done.”
Centre Lane Partners is a private investment firm focused on making debt and equity, control and non-control, investments in North American middle market companies. Centre Lane targets companies with revenues between $20 million and $500 million that have leading market positions and sustainable competitive advantages in their respective niches. It seeks to invest $5 to $50 million per transaction. Industries targeted for investment are broad and diverse with no industry excluded from its consideration set. The firm is based in New York, NY (www.centrelanepartners.com).
