LBC Credit Partners Supports Chicago Growth Partners in the Refinancing of Union Corrugating Company
CHICAGO, April 12, 2011 /PRNewswire/ -- LBC Credit Partners, a leading provider of financing solutions to middle market companies, announced the funding of a $15 million term loan to support the refinancing of Chicago Growth Partners' portfolio company Union Corrugating Company. Union Corrugating is a leading distributor and light manufacturer of metal roofing systems and other metal building products. Union Corrugating has a sixty-five year history and services over 1,000 commercial customers from ten production facilities throughout the country.
"We are pleased to have provided this additional financing that will allow Union Corrugating's management team and Chicago Growth Partners to meet their strategic objectives for their business," said Allan Allweiss, a Managing Director with LBC. "We look forward to working with Chicago Growth Partners and the terrific Union Corrugating management team."
Kristina Heinze, of Chicago Growth Partners, said, "We are excited to partner with LBC to support the continued success of Union Corrugating. Together we will provide management with the operational and financial resources to continue providing the high level of customer service Union Corrugating is known for while having the flexibility to pursue strategic growth opportunities."
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured, and mezzanine debt; and equity co-investments to companies with EBITDA generally greater than $10 million. LBC follows a long-term approach to investing adhering to a "lend and hold" strategy and typically invests $10 million to $50 million per transaction supporting acquisitions, growth strategies, refinancings, recapitalizations, and restructurings in a wide range of industries located throughout North America. LBC has more than $1.4 billion of capital under management with offices in Philadelphia, Chicago and New York. For additional information please visit www.lbccredit.com or contact Allan Allweiss at 312-263-0312.
Chicago Growth Partners focuses on lower middle market growth companies in the following sectors: Education, Business and Consumer Services; Healthcare Products and Services; and Industrial Growth. CGP has focused on these industries for over 21 years, with a combined 100+ years of experience in these three areas. Located in Chicago, CGP has a solid record of returns spanning two decades with a combined $1.2 billion in investments under management through five private equity funds. For more information visit the Chicago Growth Partners website www.cgp.com
SOURCE LBC Credit Partners