LBC Credit Partners provided $19.5 million in debt financing to private equity-backed Heat Transfer Products Group. The company, a manufacturer of commercial refrigeration equipment, is a portfolio company of Monomoy Capital Partners. The loan will be used to provide a dividend to the equity holders.
LBC Credit Partners, a leading provider of financing solutions to middle market companies, announced it provided a $19.5 million senior secured term loan to Heat Transfer Products Group, LLC (HTPG). The company, a manufacturer of commercial refrigeration equipment and portfolio company of Monomoy Capital Partners, primarily used the term loan to provide a dividend to the equity holders.
“LBC delivered as promised on this deal,” said Justin Hillenbrand, Partner, Monomoy Capital Partners. “They were quick to respond and provided a structure that worked to get us the result we needed.”
“We are happy to establish this relationship with HTPG and further strengthen our relationship with Monomoy,” added Homyar M. Choksi, Managing Director with LBC. “LBC is committed to providing middle market companies and private equity groups with flexible, well executed and timely financial solutions.”
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments. For additional information please visit www.lbccredit.com.
HTPG, which is located in Scottsboro, Alabama produces commercial, institutional, and industrial products including condensing units, evaporators, air-cooled condensers, surface and case coils for OEMs, custom air handling units, unit coolers, and compressor racks for food service application and complete refrigeration system packages. HTPG offers a complete product offering of energy efficient heat transfer equipment sold under recognized premium brands; Russell, Witt, Kramer, and ColdZone. For additional information please visit www.htpgusa.com.
Monomoy Capital Partners is a private equity firm with $700 million of assets under management that makes controlling investments in middle market companies. The Fund has completed 33 transactions in the smaller end of the middle market over the past five years and currently owns 11 businesses that collectively employ more than 5,000 people. Monomoy implements customized business improvement programs in all portfolio companies that reduce operating expenses, increase profitability and encourage profitable growth.