Champion Manufacturing, a portfolio company of Levine Leichtman Capital Partners, has completed a dividend recap. Madison Capital Funding provided a $24 million senior credit facility for the transaction. Based in Elkhart, Indiana, Champion is a maker of seating products for the healthcare industry.
LOS ANGELES, Nov. 11, 2014 /PRNewswire/ — Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that Champion Manufacturing, Inc. (“Champion”), a portfolio company of Levine Leichtman Capital Partners SBIC Fund, L.P., successfully completed a recapitalization whereby Champion (www.championchair.com) increased its senior credit facility to $24.0 million. Proceeds of the transaction were used to pay a shareholder dividend and provide for on-going working capital needs of Champion. The senior credit facility was provided by Madison Capital Funding LLC.
Based in Elkhart, Indiana, Champion is a leading designer and manufacturer of seating products for the healthcare market. The Company’s product portfolio primarily consists of highly engineered medical recliners sold to outpatient, post-acute medical facilities for treatments such as hemodialysis, where patient comfort is of critical importance.
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. Prior investments by Levine Leichtman Capital Partners include Santa Cruz Nutritionals, CiCi’s Pizza, Hackney Ladish, Jon Douglas Real Estate Group, and Luminator Technology Group.