Babson Capital Management has provided subordinated debt and made an equity co-investment to support Linsalata Capital Partners’ acquisition of Signature Systems Group from Dubin Clark & Company.
Signature is a designer, manufacturer and distributor of specialty ground surfaces and coverings such as temporary flooring, event turf and carpet, permanent specialty flooring and industrial matting. The company sells to a range of domestic and international end markets including oil, gas, mining and construction, special events, stadiums and arenas, sporting and athletic facilities, convention and conference centers and general commercial. Signature sells to over 3,000 customers and ships approximately 10,000 orders a year. The company was founded in 1999 and is headquartered in New York (www.eventdeck.com).
Babson Capital has backed other Linsalata acquisitions. In January 2013, Babson provided subordinated debt and equity to support Linsalata’s purchase of Stag-Parkway, a distributor of aftermarket RV parts and accessories.
“Babson Capital is excited about the opportunity to work with our longtime partner Linsalata Capital Partners on the Signature Systems Group investment,” said Michael Klofas, Managing Director and head of Babson Capital’s Mezzanine & Private Equity Group. “Signature’s management team has built a solid foundation for future growth and we believe its prospects are significantly enhanced by the operational expertise that Linsalata Capital brings to the partnership.”
Babson Capital has $160 billion in assets under management and is a member of the MassMutual Financial Group. The firm has offices in Boston and Springfield, MA, New York, Chicago, Charlotte and Los Angeles (www.BabsonCapital.com).
“Linsalata Capital is pleased to collaborate once again with Babson Capital’s Mezzanine & Private Equity Group on the investment in Signature Systems Group,” said Daniel DeSantis, Managing Director at Linsalata Capital Partners. “The group’s experience and expertise in the middle market, combined with its relationship-oriented approach, reliability and responsiveness has made Babson Capital a valuable partner on previous investments and we look forward to working together on this and future transactions.”
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 with $427 million in committed equity capital. The firm was founded in 1984 and is based in Mayfield Heights, OH (www.linsalatacapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 4-12-13
