LBC Credit Partners Supports Focus Purchase By Centre Lane
LBC Credit Partners (LBC), a provider of financing solutions to middle-market companies, announced it agented a $53.8 million senior secured term loan to support the purchase of Focus Products Group, LLC (FPG) by Centre Lane Partners, LLC. LBC was the agent and sole bookrunner for the syndicated facility.
Founded in 2001, FPG designs and distributes kitchen, food service and bath products to the hospitality, food service, and consumer markets. The company sells its products through retailers as well as online.
“This transaction had its twists and turns, but we had confidence in LBC based on our prior history,” said Mayank Singh, managing director at Centre Lane. “Not only were they able to provide the unitranche facility we needed, their flexibility makes them a valued partner. Since these deals can be fluid, we needed them to be able to work through the capital structure changes that cropped up as the deal progressed. They responded brilliantly.”
“We are pleased to have been chosen once again by Centre Lane to provide financing for this new platform company,” said Homyar M. Choksi, managing director with LBC. “Our streamlined decision making process allows us to be flexible and responsive to changes as deals evolve. Having completed another successful financing together, we look forward to a productive future with Centre Lane.”
Centre Lane Partners is a private investment firm focused on making debt and equity, control and non-control investments in North American middle-market companies across a wide breadth of industries.