LBC Credit Partners provided a senior secured credit facility to support the refinancing of Evercast as well as the company’s add-on acquisition of Precast Supply Company and future acquisitions. Evercast is a portfolio company of PNC Mezzanine Capital and Cornerstone Capital Partners. LBC served as agent and sole lender for the senior secured credit facility.
Evercast is a specialty precast and prestressed concrete producer in the Mid-Atlantic and Southeast. Evercast offers a range of infrastructure and utility products for bridges, transportation, utilities and walls, as well as specialty concrete solutions for customers.
Precast Supply Company is located in North Carolina and specializes in manufacturing precast concrete products for a variety of applications and end markets, serving customers across the Carolinas and surrounding markets.
Based in Pittsburgh, PNC Mezzanine Capital provides subordinated debt and equity investments to fuel value creation for private equity firms, independent sponsors and middle-market management teams. PNC Mezzanine Capital provides combinations of junior capital and seeks to invest in sectors such as niche manufacturing, value-added distribution, business services and consumer services.
Cornerstone Capital Partners is a private investment firm founded in 1990.
