Canadian lender Private Debt Partners has funded a term loan to Home Solutions Corp, a Calgary-based maker of glass and shelving products installed into residential homes. No financial terms were disclosed. The deal’s proceeds will help refinance Schedule A bank debt and provide Home Solutions with working capital.
Private Debt Partners funds term debt to Simple Spaces
TORONTO, Jan. 19, 2022 /CNW/ – Private Debt Partners (“PDP”) is pleased to announce it has funded a term loan to Home Solutions Corporation (“Simple Spaces”). The proceeds will fund a refinance of Schedule A bank debt and provide the Company with working capital. The deal funded on January 12th, 2022 from PDP’s Senior Opportunities Fund.
Simple Spaces President Andrew Davidson commented, “We appreciate the efforts of the team at Private Debt Partners to understand our business and put forward a structure suited to our needs. We believe the debt solution provided by PDP will be a significant catalyst for Simple Space’s growth strategy.”
PDP Managing Partner Jeffrey Deacon commented, “We are excited to partner with Simple Spaces and fully expect that improved cashflow as a result of this loan structure will support their expansion in Alberta.”
This transaction demonstrates the continuing deployment PDP’s Senior Opportunities Fund (“SOF”). The SOF had a first closing on April 15th, 2021 and PDP is actively working to deploy senior term financing solutions to growing companies in the Canadian mid-market.
ABOUT SIMPLE SPACES
Simple Spaces is a Calgary-based manufacturer of glass and shelving products installed into residential homes. The Company has a 30 year operational tenure serving Calgary’s prominent home developers. Simple Spaces retains its own tempering furnace and its own installation team to provide customers with high quality products and efficient service. Simple Spaces has partnered with PDP to consolidate their debt and to facilitate management’s growth strategy into 2022.
ABOUT PRIVATE DEBT PARTNERS
Private Debt Partners is a private debt firm solely focused on Canadian mid-market opportunities. PDP originates and structures senior secured loans to high-quality companies. PDP was co-founded by Jeffrey Deacon, Greg Dimmer and Jean-Christophe Greck who combined bring over 35 years of experience in fundraising, origination, portfolio management and underwriting. Lead investors include Stephen Lister and Thomas MacMillan. Additional information on PDP is available at www.privatedebt.com