Babson Capital Management has provided subordinated debt and made an equity co-investment to support Linsalata Capital Partners’ acquisition of Stag-Parkway, a distributor of aftermarket RV parts and accessories.
Stag-Parkway is a distributor of aftermarket RV parts and accessories to RV dealers in the United States. The company focuses on nondiscretionary maintenance, repair and operations equipment such as appliances, hitches and electrical devices. Stag-Parkway has annual sales of approximately $180 million and is based in Atlanta (www.stagparkway.com).
“Linsalata Capital is pleased to collaborate once again with Babson Capital’s Mezzanine & Private Equity Group on the investment in Stag-Parkway,” said Stephen Perry, Co-President and Senior Managing Director at Linsalata Capital Partners. “Babson Capital’s experience and expertise in the middle market, combined with its reliability and responsiveness have made the group a valuable partner on previous investments and we look forward to working together on this and future transactions.”
Babson Capital had $160 billion in assets under management as of Dec. 31, 2012 and is a member of the MassMutual Financial Group. The firm is based in Boston and Springfield, MA and Charlotte, NC and has six additional offices in the US and one in Sydney, Australia, with subsidiaries in London and Tokyo (www.BabsonCapital.com).
“Babson Capital is excited to partner again with Linsalata Capital Partners on the Stag-Parkway transaction,” said Michael Klofas, Managing Director and head of Babson Capital’s Mezzanine & Private Equity Group. “Stag-Parkway’s experienced management team has built an industry-leading market position and LinCap’s expertise in distribution will help the company realize its growth potential through internal initiatives and add-on acquisitions.”
Linsalata Capital Partners invests from $10 million to $50 million of equity in middle market companies in an array of industries that have $7 million to $50 million of EBITDA and at least $300 million in enterprise value. The firm is currently investing from its seventh fund, Linsalata Capital Partners Fund VI, L.P., with $427 million in committed equity capital. Linsalata Capital Partners is based in Mayfield Heights, OH (www.linsalatacapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-16-13