Great Rock Capital closed a senior secured credit facility with Stanz Foodservice and Troyer Foods, two regional food and non-food distributors located in Indiana.
The new capital partially funded Steinbeck Investment Company’s acquisition of both companies and will provide additional liquidity to support future growth of the combined platform. The bespoke facility includes a revolver, term loan and delayed draw term loan.
“Great Rock quickly customized a structure that supported our acquisition and will provide Stanz and Troyer additional liquidity to capitalize on the operating efficiencies from the successful merger,” Megan Horvath, partner at Steinbeck, said. “We are excited about our financial partnership and what it entails for the long-term growth of both portfolio companies.”
“Stanz and Troyer have each built an industry-leading food service business in the Midwest,” Stuart Armstrong, CEO of Great Rock Capital, said. “The Steinbeck investment, Great Rock’s capital, and the merger of Stanz and Troyer will enable these well-established businesses to achieve new levels of growth, and we look forward to playing a role in their future success.”
