TCF Capital Funding, the Chicago-based leveraged finance division of TCF National Bank has provided $8.5 million in senior secured credit facilities to back the recapitalization of Direct Marketing Solutions. The refinancing is being funded by Caymus Equity Partners, Centerfield Capital Partners and management.
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Wythe Will Distributing, a portfolio company of Slate Capital Group, has merged with Tzetzo Bros. The combined company will be called Wythe Will Tzetzo. Terms of the deal were not released. Buffalo, NY-based Tzetzo is a provider of national branded, unbranded, and private label confectionery products. Williamsburg, Va.-based Wythe Will is a distributor of branded and private label packaged gourmet food and confections. Slate Capital will hold a controlling stake in the combined company. Additional equity investment and mezzanine financing for the deal came from Triangle Capital Corporation and Centerfield Capital Partners. M&T Bank, Fifth Third Bank and First Niagara Bank provided senior debt financing.
Centerfield Capital Partners has raised $59.85 million from 23 investors so far for its third fund, Buyouts reported, citing a recent regulatory filing.
It unclear how much the Indianapolis-based firm is seeking to raise for the fund, Centerfield Capital Partners III LP.
Centerfield Capital provides subordinated debt and equity to lower mid-market companies for acquisitions, growth financings, recapitalizations, corporate divestitures and other types of transactions. The firm currently manages approximately $200 million, according to its Web site. Centerfield Capital raised $130 million for its previous fund in 2006, according to Capital IQ.