F.N.B. Capital Partners has closed its fourth investment in its new SBIC fund, Home Care Delivered, Inc. FNBCP supported the recapitalization through a mezzanine investment that provided liquidity to exiting shareholders.
F.N.B. Capital Partners, L.P. (“FNBCP”) is pleased to announce the successful closing of its fourth investment in its new SBIC fund, Home Care Delivered, Inc. (“HCD”). FNBCP supported the recapitalization through a mezzanine investment that provided liquidity to exiting shareholders and positioned the Company for future growth. FNBCP is a $175 million fund, licensed as a Small Business Investment Company (“SBIC”) and managed by Tecum Capital Management, Inc.
“We are extremely excited to enter into this partnership with HCD Management,” noted Stephen Gurgovits, Jr., Managing Partner of FNBCP. “We believe the Company’s technology platform positions HCD advantageously in the marketplace, and we are excited about the growth prospects in the home medical supplies segment.” Cohen & Grigsby and McGuire Woods served as FNBCP’s valued legal advisors on this transaction. “In addition to our legal advisors, it was a pleasure working with HCD’s financial advisor, Marriott & Co. and partnering with the senior lender, Capital One Bank” added Matthew Harnett, Partner of FNBCP.
Founded in 1996, HCD is a leading, direct-to-customer provider of home medical supplies to customers across the U.S, many of whom are enrollees under the federal Medicare or state Medicaid programs. The Company offers a wide array of name-brand products across multiple chronic care categories, including incontinence, diabetes, ostomy, urology, wound care, and oral nutritional.
About F.N.B. Capital Partners, L.P.
F.N.B. Capital Partners, L.P. is a pooled fund of committed capital licensed by the Small Business Administration (“SBA”) as an SBIC. FNBCP, headquartered in Pittsburgh, Pennsylvania, invests $3 million to $10 million per transaction. FNBCP specializes in providing mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium size commercial enterprises for the purposes of recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital. For more information, please visit www.fnbcp.com or download our FNBCP Fact Sheet.
About Tecum Capital Management, Inc.
Tecum Capital Management, Inc. (“Tecum”) is a private investment firm and management company for F.N.B. Capital Partners, L.P. Tecum, based in Pittsburgh, Pennsylvania, oversees a pool of committed capital focused on mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium sized commercial enterprises. The company is focused on providing financing for recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital needs.