FNBCP closes first investment for new SBIC fund

F.N.B. Capital Partners has raised an undisclosed amount of financing for its recently launched fund. According to the firm, the funding supported a buyout by 3 Rivers Capital and the management team of PHOENIX Rehabilitation and Health Services. Headquartered in Pittsburgh, FNBCP is a fund licensed by the SBA as an SBIC.

PRESS RELEASE

Pittsburgh, Pennsylvania – F.N.B. Capital Partners, L.P. (“FNBCP”), is pleased to announce the successful closing of the first mezzanine and equity investment for its recently launched fund. This investment supported an acquisition by 3 Rivers Capital (“3RC”), and the management team of PHOENIX Rehabilitation and Health Services, Inc. (“PHOENIX”). FNBCP is a $175 million fund of committed capital 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 3 Rivers Capital and PHOENIX,” noted Stephen Gurgovits, Jr., Managing Partner of F.N.B. Capital Partners, L.P. “Industry trends appear favorable for the physical therapy industry, and PHOENIX has a great market presence in our region to capitalize on these trends. The PHOENIX management team has created a working environment which permits physical therapists to focus on creating good outcomes for patients and thrive in an entrepreneurial environment.”
“We are very excited to have F.N.B. Capital partner with us to support our investment in PHOENIX,” said Bob McGuire, Partner at 3 Rivers Capital. “Their investment and strategic support will further strengthen our ability to help PHOENIX capitalize on the numerous growth opportunities in the outpatient physical therapy market.”
About PHOENIX:
PHOENIX offers physical and occupational therapy services throughout Pennsylvania, including sports rehabilitation, orthopedic rehabilitation, and work injury rehabilitation. More recently, the addition of occupational health services and chiropractic services have been added in select markets. PHOENIX is headquartered in Indiana, Pennsylvania, and operates over 45 outpatient locations. To learn more about PHOENIX, please visit their website at: www.phoenixrehab.com.
About 3 Rivers Capital:
Founded in 2005, 3RC is a Pittsburgh-based private equity firm which focuses primarily on equity recapitalizations and buyouts of privately held companies. To learn more about 3RC, please visit: www.3riverscap.com.
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