Levine Leichtman Capital Partners has closed a dividend recap of portfolio company Lawn Doctor. According to LLCP, the transaction increased Lawn Doctor’s senior credit facility to $22 million. Madison Capital Funding provided the senior credit facility. Based in New Jersey, Lawn Doctor is a lawn care franchisor.
LOS ANGELES, CA–(Marketwired – Dec 12, 2014) – Levine Leichtman Capital Partners (“LLCP”), a private equity firm headquartered in Los Angeles, California, has recently announced a completed recapitalization for Lawn Doctor, Inc. (“Lawn Doctor”), a portfolio company of Levine Leichtman Capital Partners SBIC Fund.
The transaction provided ongoing working capital for Lawn Doctor and also helped pay a shareholder dividend.
“We are pleased to have completed this important divided recapitalization,” said Lauren Leichtman, CEO of Levine Leichtman Capital Partners.
Ms. Leichtman also stated, “The transaction increased Lawn Doctor’s senior credit facility to approximately twenty-two million dollars and among other things, provided a beneficial infusion of capital to help facilitate Lawn Doctor’s day-to-day operations.”
Recapitalization by private equity groups such as LLCP is a common practice. Investments by LLCP bring financial and operational experience to business partners, while at the same time, allows business owners to maintain meaningful equity stakes in their companies.
Since 1984, Levine Leichtman Capital Partners has provided entrepreneurs with long-term capital and financial expertise. LLCP makes investments into middle market companies utilizing its structured equity investments approach. Previous investments include Santa Cruz Nutritionals, CiCi’s Pizza, Hackney Ladish and Luminator Technology Group.
The Lawn Doctor recapitalization is one of many recent successful transactions LLCP has handled. The senior credit facility was provided by Madison Capital Funding LLC.
For more information, visit the Levine Leichtman Capital Partners website at http://www.llcp.com .
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners is a Los Angeles, California-based investment firm that manages approximately $7.0 billion of institutional investment capital through private equity partnerships, and various debt and leveraged loan funds. LLCP is currently making new investments through Levine Leichtman Capital Partners V, L.P., Levine Leichtman Capital Partners SBIC Fund, L.P., and Levine Leichtman Capital Partners Private Capital Solutions, L.P.