LBC supports MiddleGround’s buyout of EDSCO

LBC Credit Partners has provided a credit facility to support MiddleGround Capital's acquisition of EDSCO Fasteners LLC.

LBC Credit Partners has provided a credit facility to support MiddleGround Capital’s acquisition of EDSCO Fasteners LLC. No financial terms were disclosed. Based in Denton, Texas, EDSCO is a supplier of foundation anchoring systems for critical infrastructure installations.

PRESS RELEASE

RADNOR, Pa., Jan. 28, 2020 /PRNewswire/ — LBC Credit Partners (“LBC”), a leading provider of financing solutions to middle market companies, provided a senior secured credit facility to support the acquisition of EDSCO Fasteners LLC (“EDSCO” or the “Company”) by MiddleGround Capital.

LBC served as Agent and Sole Lead Arranger for the senior secured credit facility.
Founded in 1985, EDSCO is a leading manufacturer and distributor of anchor bolt cages for mission-critical infrastructure installations. The Company primarily serves the transmission and distribution utility market with products that support transmission towers and also supplies customers in the telecommunications and transportation markets. EDSCO’s product offering includes anchor cages, 18J rebar bolts, smooth bar bolts, bolt hardware, plates, and other fabricated products.

Headquartered in Denton, Texas, EDSCO has additional facilities in Utah, North Carolina, Tennessee, and Indiana.

MiddleGround Capital is a private equity firm that makes control equity investments in lower middle market North American companies in the B2B industrial and specialty distribution sectors. It is currently investing out of its first fund. MiddleGround works with its portfolio companies to create value through a hands-on operational approach and partners with its management teams to support long-term growth strategies. The firm is based in Lexington, Kentucky with an office in New York City.

About LBC Credit Partners
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 of capital commitments, we have provided in excess of $6.4 billion to over 229 issuers throughout our 15-year history.

* LBC is headquartered in the Philadelphia area and has offices in Atlanta, Chicago, Los Angeles and New York. To learn more, visit www.lbccredit.com. *Information as of September 30, 2019