LBC has provided credit facilities to support the refinancing of Sciens Building Solutions and its acquisition of Mount Dora, Florida-based SmartWatch, a security, fire alarm and sound integrator serving Orlando and the Central Florida area. No financial terms were disclosed. San Francisco-based Sciens Building Solutions is a portfolio company of Huron Capital.
LBC Credit Partners (“LBC”) provided senior secured credit facilities to support the refinancing of Sciens Building Solutions and the add-on acquisition of SmartWatch Security & Sound (“SmartWatch”). Sciens Building Solutions, a portfolio company of Huron Capital, was formed in 2016 to pursue a buy-and-build investment strategy in the fire detection and integrated solutions sector.
Headquartered in San Francisco, California, Sciens Building Solutions is a holding company focused on the fire detection and security services sector. This includes the design, installation, and provision of maintenance services for fire detection and clean agent fire suppression systems in a variety of commercial, institutional, and government facilities.
Founded in 2000, SmartWatch is a leading security, fire alarm and sound integrator servicing Orlando and the Central Florida area as well as specialty projects in the United States. Every system is custom configured and built to address specific needs by incorporating a variety of quality components, features and design aspects.
Based in Detroit, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through their proprietary ExecFactor® and buy-and-build investment models. Huron prefers complex situations where they believe they can help companies reach their full potential by combining Huron’s operational and strategic resources, substantial capital base, and transaction experience with seasoned operating executives. Over the past two decades, Huron Capital has successfully established six investment funds totaling approximately $1.8 billion in capital and has completed over 175 transactions throughout North America. Huron Capital portfolio companies have had aggregate annual revenues exceeding $3.0 billion, 15,000 employees and operated over 325 facilities. They target both control and non-control equity stakes in fundamentally sound companies that the firm believes can benefit from its operational approach to creating value. These transactions typically take the form of equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital’s sector focus includes business services, consumer products & services and specialty industrials.
LBC served as Agent and Sole Lead Arranger for the senior secured credit facilities.
LBC Credit Partners provides middle market and small-cap financing solutions supporting sponsored and non-sponsored transactions throughout the U.S. across a broad range of industries. With over $3 billion in capital commitments, we have provided in excess of $6.4 billion to over 228 issuers throughout our 14-year history.* LBC is headquartered in the Philadelphia area and has offices in Atlanta, Chicago, Los Angeles and New York. To learn more, please visit www.lbccredit.com
*Information as of June 30, 2019.