TCF Capital Funding, a division of TCF National Bank, has provided secured financing to back River Associates Investments‘ acquisition of Houston-based Quikserv, a maker of transaction window and drawer systems. No financial terms were disclosed.
CHICAGO, IL (June 21, 2018) – TCF Capital Funding, a division of TCF National Bank which is a subsidiary of TCF Financial Corporation (TCF) (NYSE: TCF), today announced that it provided senior secured financing to support River Associates Investments, LP in the acquisition of Quikserv Corp. (“Quikserv” or the “Company”).
Based in Houston, TX, Quikserv was founded in 1986 and is a market-leading designer and manufacturer of transaction window and drawer systems including drive-thru / pass-thru window and drawer systems, ticket windows, security windows and drawers, and commercial transaction window and drawer systems. With an installed base of over 85,000 units, the Company’s products are used in restaurants, pharmacies, convenience stores, gas stations, stadiums, schools, healthcare facilities, banks, as well as municipal, government, police and other commercial buildings. For more information, visit www.Quikserv.com.
“Working with clients for whom so many generate a majority of their daily sales volume through automated transaction window and drawer systems, Quikserv’s focus on quality, service and product development has helped make it the leader in the restaurant space. TCF is pleased to provide the financing to assist Quikserv in reaching that same status across all the markets it serves,” remarked TCF Capital Funding Vice President, Scott Nielsen.
About TCF Capital Funding
TCF Capital Funding provides cash flow and asset-based lending to lower middle market businesses. National in scope, this senior leveraged lending group focuses on providing private equity sponsor-backed cash flow loans and asset-based loans to companies with less than $100 million in revenue and between $2 million and $10 million in EBITDA. TCF Capital Funding is a division of TCF National Bank, which is a subsidiary of TCF Financial Corporation (TCF) (NYSE: TCF). To learn more about TCF Capital Funding, visit www.tcfcapitalfunding.com.
About TCF Bank
TCF is a Wayzata, Minnesota-based national bank holding company. As of March 31, 2018, TCF had $23.4 billion in total assets and 318 bank branches in Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona and South Dakota providing retail and commercial banking services. TCF, through its subsidiaries, also conducts commercial leasing and equipment finance business in all 50 states and commercial inventory finance business in all 50 states and Canada. http://ir.tcfbank.com.
About River Associates Investments, LP
River Associates is a private equity firm that focuses exclusively on investing in the lower middle market and has partnered closely with management teams for over 28 years. Target businesses can be privately held, private equity-backed or divestitures from larger companies. River Associates is opportunistic as to industry and has invested in numerous manufacturers, high margin distributors, industrial service and business service companies. The Firm is currently investing its 7th committed fund ($285 million) and seeks to make investments in companies with $3-15 million of EBITDA throughout the United States and Canada. Since its founding in 1989, River Associates has initiated 88 transactions, many of which have been strategic add-on acquisitions to platform companies. River Associates is headquartered in Chattanooga, Tennessee. For additional information visit www.riverassociates.com