RADNOR, Pa., Sept. 28, 2021 /PRNewswire/ — LBC Small Cap, an affiliate of LBC Credit Partners, provided senior secured credit facilities to Premium Service Brands (“PSB” or the “Company”), a Charlottesville, VA
LBC served as Agent and Sole Lead Arranger for the senior secured credit facilities.
The Grout Medic will join a roster of integrated service franchises that includes kitchen-remodeling brand Kitchen Wise, painting brand 360° Painting, cleaning brand Maid Right, outdoor surface cleaning brand Renew Crew, home-repair brand Handyman Pro, junk removal franchise Rubbish Works and garage-door services brand ProLift Garage Doors.
“We are excited to partner with Paul Flick and the Premium Service Brands team on this investment,” said Mark Tyson, Managing Director at LBC Small Cap. “PSB is a leader in the home service franchise market and the Company is well positioned for future growth.”
LBC Small Cap partnered with Modern Bank to provide the senior secured credit facilities.
Modern Bank provides cash flow based senior debt and unitranche financing to private equity, independent sponsor and entrepreneur backed companies across the lower and middle markets. They have a strong track record of delivering tailored solutions to support buyouts/acquisitions, recapitalizations, refinancing and growth capital to companies across a diverse set of sectors including manufacturing, distribution, business services, logistics, and healthcare services.
Modern Bank, N.A. is an FDIC insured Bank and an Equal Housing Lender.
About LBC Small Cap
LBC Small Cap is focused on originating, executing and managing senior secured, unitranche, junior debt, structured equity and equity co-investments in U.S.-based lower middle market companies. The LBC Small Cap team looks to deploy capital to support funded sponsors, independent sponsors, and family-owned businesses across a broad array of industries.
About LBC Credit Partners
LBC Credit Partners provides middle market and small-cap financing solutions supporting sponsored and non-sponsored transactions throughout the U.S. across a broad range of industries. With over $3 billion of capital commitments, we have provided in excess of $8.2 billion to over 279 issuers throughout our 17-year history.* To learn more, visit www.lbccredit.com. *Information as of June 30, 2021.
About Premium Service Brands
Headquartered in Charlottesville, VA, Premium Service Brands (PSB) is the leader in home services franchise opportunities. Recently acquiring Renew Crew in January 2020, Rubbish Works in November 2020 and The Grout Medic in September 2021, the other brands under the PSB umbrella include 360º Painting, ProLift Garage Doors, Handyman Pro, Maid Right and Kitchen Wise. These home improvement industry brands provide franchisees with comprehensive training and support for every step while viewing customer service as a way of life by also giving back to local communities through their nonprofit, Kids-Lift. Supporting kids and their families is crucial to PSB’s personal values to brighten and care for their communities.
To learn more about Premium Service Brands and their opportunities for growth and business ownership, visit www.premiumservicebrands.com.
About Susquehanna Private Capital
Susquehanna Private Capital (SPC) funded by the founders of Susquehanna International Group, LLP – one of the world’s largest privately-held financial services firms – was founded in 2016. With a flexible capital structure, SPC empowers founders, entrepreneurs, and operators to build businesses with enduring value. SPC targets U.S. companies in the business, consumer and franchise services, healthcare services, and industrial technology sectors with $3 million to $15 million in EBITDA.
For more information about Susquehanna Private Capital, please visit www.spcllc.com.
LBC Credit Partners
555 East Lancaster Avenue, Suite 450
Radnor, PA 19087
Email: [email protected]
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SOURCE LBC Credit Partners