Daily News: May 7, 2014

LBC Credit Partners Agents Second Lien Term Loan

LBC Credit Partners agented a second lien term loan to Diversified Maintenance Systems, a portfolio company of Frontenac Company.

Proceeds from the facility were used to finance Diversified’s acquisition of Rite Way Service and to refinance existing indebtedness. The strategic acquisition will expand the end markets served by the company and diversify its customer base.

LBC Credit Partners is the administrative agent for the second lien facility. This transaction is a continuation of the strong relationship between LBC and Frontenac Company. Key criteria in choosing LBC to agent the second lien loan included LBC’s ability to close quickly, the flexibility of capital and the certainty of execution.