Enhanced Capital Partners through its SBIC fund, Enhanced Small Business Investment Company has recently purchased a $9.0 million senior subordinated note issued by Masthead Industries. Masthead is engaged in the wholesale distribution of industrial and hydraulic hoses and fittings, hose assembly systems, and mobile repair service carrying over 46,000 SKUs.
Enhanced Capital Partners, Inc., through its SBIC fund, Enhanced Small Business Investment Company, LP (“ESBIC”), announced today it recently purchased a $9.0 million senior subordinated note issued by Masthead Industries, Inc. (“Masthead”). Masthead is engaged in the wholesale distribution of industrial and hydraulic hoses and fittings, hose assembly systems, and mobile repair service carrying over 46,000 SKUs. Enhanced Capital’s investment supports the acquisition of Hosepower USA, Inc. Vulcan Capital, Paul G. Allen ‘s investment fund, also participated in the financing.
“We are thrilled to be a part of this exciting growth story,” said Barry A. Osherow , Managing Director at Enhanced Capital. “We believe that Masthead has an excellent management team in place and is well positioned to continue to execute its growth plans.”
About Masthead Industries, Inc.
Masthead, based in Orange Park, FL, is engaged in the wholesale distribution of industrial and hydraulic hoses and fittings, hose assembly systems, and mobile repair service carrying over 46,000 SKUs. Masthead offers Hose Boss™ mobile repair service, a concept pioneered by Masthead in the early 1990’s. HosePower®’s fleet of over 70 service trucks provide on-site hydraulic hose repair to construction, mining and manufacturing operations across North America. Masthead is also the master distributor of Flextral® products, which include hydraulic and industrial hose, fittings and a complete line of accessories. HosePower® offers custom OEM hose assemblies to manufacturers, turn-key hose distribution programs to industrial distributors as well as walk-in counter service to all.
About Enhanced Capital Partners, Inc.
ESBIC is a SBIC fund set up for the purpose of providing debt and minority equity financing to U.S.-based lower middle market companies. Enhanced Capital, headquartered in New York City, is a diversified private investment firm focused on established small and mid-sized companies overlooked by traditional sources of capital due to location or size. Since 2000, Enhanced Capital has raised more than $600 million through a variety of state and federal public-private investment programs.
About Vulcan Capital
Vulcan Capital was formed in 2003 and is headquartered in Seattle, WA. The firm serves as the investment arm of Vulcan Inc., the organization founded by Paul G. Allen in 1986 to manage his philanthropic and business endeavors. Vulcan Capital’s investment activities include direct investing in public and private securities as well as indirect investments in traditional and alternative asset classes. Vulcan Capital’s current portfolio spans a range of industry sectors, including media and communications, energy and natural resources, financial and information services, technology, and life sciences. For more information, please visit http://capital.vulcan.com.
Marissa Wolf on behalf of Enhanced Capital
This is intended for marketplace communication purposes only and is neither an offer to sell nor a solicitation of any offer to buy any securities, investment product or investment advisory services. This is not an offering or the solicitation of an offer to purchase an interest in a fund.
SOURCE Enhanced Capital Partners, Inc.