Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Inland Pipe Rehabilitation (IPR) by private equity sponsor, J.F. Lehman & Company.
Founded in 1973, IPR provides trenchless pipe rehabilitation solutions and technology to the municipal wastewater and storm water markets. The company’s technologies and services provide government customers with minimally disruptive, cost-effective solutions to manage aging underground pipe infrastructure.
J.F. Lehman is a middle-market private equity firm focused exclusively on the aerospace, defense, maritime, government and environmental sectors.
“We are excited to have IPR join our growing portfolio of companies in the environmental services sector,” said Glenn Shor, a partner at J.F. Lehman. “The company is an excellent fit with our investment strategy given its strong market position, comprehensive suite of services and talented workforce. We believe IPR has significant opportunities for growth given the increasing demand for efficient, cost-effective solutions to service the critical, but aging, municipal wastewater and storm water infrastructure.”
Jones Day provided legal counsel to J.F. Lehman on the transaction. Houlihan Lokey served as financial advisor to IPR, while Jaffe Raitt Heuer & Weiss provided it with legal counsel.
Headquartered in Chicago with offices in Atlanta, Boston, Dallas, Los Angeles, New York, and San Francisco, Monroe Capital is a private credit asset management firm specializing in direct lending and opportunistic private credit investing. Since 2004, the firm has provided private credit solutions to borrowers in the U.S. and Canada. Its middle market lending platform provides debt financing to businesses, special situation borrowers, and private equity sponsors, and investment types include cash flow, enterprise value and asset-based loans, unitranche financings and equity co-investments.