Thomas Mozjesik, the CEO of L&S, will continue to run the company along with his existing senior management team and will hold a substantial ownership position in the company.
L&S is a plumbing service company specializing in new, single-family residential construction in the Texas and Oklahoma markets. The company serves national and regional homebuilders through five locations, including Dallas/Ft. Worth, Houston, San Antonio, and Oklahoma City. The company is based in Richardson, TX (www.lsmech.com).
ORIX Mezzanine and Private Equity made a subordinated debt, preferred equity and common equity investment in L&S Mechanical. “We are excited to invest once again with Mark Bounds and the BEP team. They are an experienced sponsor that understands the building products space well. L&S, with its seasoned management team, long-standing customer relationships and leading position in key Texas housing markets, is well-positioned for future growth,” said Jeff Sangalis, Managing Director of ORIX Mezzanine and Private Equity.
ORIX Mezzanine & Private Equity, is a business unit of ORIX USA, provides mezzanine debt and private equity capital to lower middle market and middle market companies that have at least $5 million of EBITDA. Investments of $5 million to $25 million are made in a variety of businesses and geographic areas for buyouts, mergers and acquisitions, recapitalizations and refinancings, and growth and expansion situations. Investments are with companies owned by equity sponsor groups, companies with fundless sponsor involvement, family-owned companies, and directly with management teams. ORIX is based in Dallas (www.orixmezzanine.com) (www.orixmpe.com) (www.orix.com).
Bounds Equity Partners (BEP) makes control investments in companies that have at least $1 million of EBITDA. Sectors of interest include building materials and services; business services; healthcare products and services; niche distribution; and specialty manufacturing. The firm was founded in 2009 by Mark Bounds and is headquartered near Chicago in Highland Park, IL (www.boundsequity.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 11-18-13