LBC Small Cap, an affiliate of LBC Credit Partners, provided senior secured credit facilities to Premium Service Brands (PSB), a Charlottesville, VA-based multi-brand franchisor and portfolio company of Susquehanna Private Capital. The investment supported PSB’s acquisition of House Doctors, a 36-unit handyman franchise. LBC served as agent and sole lead arranger for the senior secured credit facilities.
The House Doctor franchise, which was previously owned and operated by Saltire Brands, will join PSB’s roster of integrated home service concepts, including kitchen remodeling brand Kitchen Wise, painting brand 360° Painting, cleaning brand Maid Right, outdoor surface cleaning brand Renew Crew, home repair brand Handyman Pro, junk removal franchise Rubbish Works, garage door services brand ProLift Garage Doors and recently-acquired tile and grout cleaning franchise The Grout Medic.
“We are thrilled to help finance the addition of the House Doctors concept to Premium Service Brands’ portfolio,” Mark Tyson, managing director at LBC Small Cap, said.
LBC Small Cap partnered with Modern Bank to provide the senior secured credit facilities.
Modern Bank provides cash flow based senior debt and unitranche financing to private equity, independent sponsor and entrepreneur backed companies across the lower and middle markets.
