LBC Small Cap, an affiliate of LBC Credit Partners, provided a senior secured term loan and equity co-investment to support the acquisition of Auchinachie by Astar Heating & Air, a portfolio company of Dubin Clark.
LBC Small Cap served as documentation agent for the senior secured term loan and equity co-investment.
Founded in 1906 and headquartered in Binghamton, NY, Auchinachie is a fourth-generation family business that provides plumbing, heating, air conditioning, water treatment, and air purification to single family homes.
Middleton, NY-based Astar is a provider of HVAC replacement, maintenance, and plumbing solutions to residential homeowners throughout the lower Hudson Valley region of New York.
“We are very excited to provide financing to Astar and partner with the sophisticated professionals at Dubin Clark in building a world-class company in the HVAC space,” said Don Rice, partner at LBC Small Cap.