- The proceeds of this transaction will be used by FiberGlass to support its continued growth
- NewSpring Mezzanine is NewSpring’s private credit unit
- NewSpring manages over $3 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt
NewSpring Mezzanine is backing Third Arch Investments’ acquisition of Florida-based FiberGlass Coatings, a maker of multi-use epoxy, resin and fiberglass products. No financial terms were disclosed.
Tecum Capital Partners is also providing financial support for the transaction.
FiberGlass Coatings intends to use the proceeds from this transaction to support the continued growth of its direct-to-consumer sales channel as well as the expansion of its production capacity to facilitate future growth.
“FiberGlass Coatings has done a tremendous job diversifying its production capabilities and applications to support a wide range of products, end markets, and customers. Combined with high levels of customer service and a dedication to producing quality products, FiberGlass Coatings has emerged as a fast-growing business with a long runway for continued expansion across the U.S.,” said NewSpring Principal Drew Scannell in a statement. “We’re excited to work alongside the entire FiberGlass Coatings team to support the growth of this business as it continues to elevate the standard of best-in-class epoxy, resin, and fiberglass production.”
NewSpring Mezzanine is NewSpring‘s private credit unit.
NewSpring manages over $3 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt.