TCF Capital Funding, the Chicago-based leveraged finance division of TCF National Bank has provided $13.5 million in senior secured credit facilities to support the acquisition of Gullett and Associates by Linx Partners and management. Based in Houston, Texas, Gullett is a service provider of pipeline surveying, right-of-way acquisition and drafting to the oil and gas industry and municipalities.
TCF Capital Funding (“TCFCF”), the Chicago-based leveraged finance division of TCF National Bank (“TCF Bank”), announced today that it provided $13.5 million in senior secured credit facilities to support the acquisition of Gullett and Associates, Inc. (“Gullett”) by Linx Partners, LLC (“Linx”) and management.
Based in Houston, Texas, Gullett is a leading service provider of pipeline surveying, right-of-way (“ROW”) acquisition and drafting to the oil and gas industry and municipalities. Over its 40+ year operating history, Gullett has developed an industry-leading reputation and assembled a tenured team of employees that have significant experience and relationships in the segment.
“We have developed a great relationship with the Linx team,” said Joe Gaffigan, President of TCFCF. “The Linx team has a proven track record and we are excited to be the senior debt provider for their acquisition of Gullett.”
Linx Partners, LLC is a lower middle market private equity firm that partners with family and entrepreneur-led, industrial businesses. Linx, with offices in Atlanta and New York, invested in Gullet & Associates, Inc. through its second fund.
About TCF Capital Funding
TCFCF provides asset-based and cash flow lending to lower middle market businesses. National in scope, this senior leveraged lending group focuses on providing asset-based loans and private equity sponsor-backed cash flow loans to companies with less than $100 million in revenue and between $2 million and $10 million in EBITDA.
About TCF Bank
TCF Bank is a wholly-owned subsidiary of TCF Financial Corporation (NYSE: TCB), a Wayzata, Minnesota-based national bank holding company with $17.9 billion in total assets at September 30, 2012. The company has nearly 430 branches in Minnesota, Illinois, Michigan, Colorado, Wisconsin, Indiana, Arizona and South Dakota, providing retail and commercial banking services. TCF, through its subsidiaries also conducts commercial leasing and equipment finance business in all 50 states, commercial inventory finance business in the U.S. and Canada, and indirect auto finance business in 40 states.
Joseph P Gaffigan
TCF Capital Funding
800 Burr Ridge Parkway
Burr Ridge, IL 60527
work: 630-986-7123 / cell: 312-961-3563