Boathouse Capital has made an investment in Accurate Background. The firm invested $5 million of subordinated debt to support the working capital needs associated with Accurate Background’s continued growth and to facilitate its future strategic plans, including add-on acquisitions. Headquartered in Irvine, CA, Accurate Background offers a complete set of on-demand employment screening services, including criminal, motor vehicle, and other public records searches, employment history, education and professional license verifications, credit checks, and drug and health screening services.
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Boathouse Capital portfolio company Colortree Group has acquired Direct Impressions. The addition of Direct Impressions will help accelerate Colortree’s strategy of building a full-service provider to the direct mail industry.
Hawke Aerospace has completed a recapitalization with Boathouse Capital, a middle-market mezzanine debt and equity investment fund based in Wayne, Pennsylvania. Hawke Aerospace is the parent company of helicopter maintenance provider Uniflight, air medical operator Keystone Med-Flight and Aviation Services Unlimited, which provides tactical airlift services primarily to law enforcement agencies and utility companies. The [...]
Philadelphia-based middle market mezzanine debt and equity fund Boathouse Capital has backed Florida-based Energy Planning Associates. Boathouse Capital invested $6.0 million of subordinated debt, along with capital from EPAC’s founders and co-principals Mike Brennan and Jason Plourde. Wells Fargo provided senior debt financing. PRESS RELEASE Boathouse Capital, a middle market mezzanine debt and equity investment [...]
Boathouse Capital and CMS Mezzanine have backed BioPharm Communications. Headquartered in New Hope, PA, BioPharm is a medical communications and marketing agency specializing in non-personal, peer-to-peer solutions to the pharmaceutical and biotechnology industries. Boathouse and CMS invested $10.5 million in subordinated debt and equity in a Southfield Capital Advisors led recapitalization of BioPharm alongside management. [...]
Granite Equity Partners is selling Atomic Learning to Boathouse Capital and Renovus Capital Partners, a pair of Pennsylvania-based private equity firms. The PE firms invested $19 million in subordinated debt along with Atomic Learning’s management and M&I Bank provided senior debt. Atomic Learning is a Minnesota-based education company providing technology to instructors. DLA Piper, advised [...]
Boathouse Capital, a firm based in suburban Philadelphia, has closed on $120 million for its new debt fund, which will focus on mezzanine debt and equity in lower middle market companies. The firm will invest between $2 million and $12 million into companies with a minimum of $2 million EBITDA.
Boathouse Capital, a Wayne, Penn.-based middle market mezzanine debt and equity investor, has put $9.1 million in two software companies: Tampa, Fla.-based Pilgrim Software Inc., and Charlotte, North Carolina-based AvidXchange. Specific terms of the two deals were not released. Pilgrim Software makes compliance and risk management software. AvidXchange is a provider of accounts payable management software.
During President Obama’s first term, the U.S. Small Business Administration’s Small Business Investment Company program has committed more capital to investors backing growth plays at the current—and dirt cheap—interest rate of about three percent.
It’s because investors are increasingly seeking out SBIC funding to support mezzanine deals, growth plays and smaller buyouts. The SBIC program lent $1.2 billion last fiscal year (each ends Sept. 30) and will surely approve funds exceeding that amount this year, but it still has hundreds of millions of dollars that go unused thanks to too few applicants and too few approvals. Yet, the capital committed by the program over the past full fiscal year represents an increase over the four prior years’ commitment levels by a whopping 55 percent. Experts believe the gap in capital allotted to the program and the amount it actually deploys will continue to shrink; difficulty raising debt has turned more investment firms that would usually sneer at the prospect of partnering with the government instead into eager recipients of discount debt.
Platinum Protection has closed a round of debt financing with Boathouse Capital, a Philadelphia-based private equity firm, but has not released any figures. Platinum is a Utah-based home security with customers in 43 states. Boathouse Capital invests mezzanine debt and equity in lower middle market companies and, to date, has deployed over $1 billion.