LBC Small Cap, an affiliate of LBC Credit Partners, provided senior secured credit facilities to Premium Service Brands, a Charlottesville, VA-based multi-brand franchisor and portfolio company of Susquehanna Private Capital. The investment will support Premium Service Brands’ acquisition of The Grout Medic, a 67-location tile and grout cleaning and restoration franchise.
LBC Small Cap served as agent and sole lead arranger for the senior secured credit facilities. LBC Small Cap partnered with Modern Bank to provide the senior secured credit facilities.
The Grout Medic will join a roster of integrated service franchises that includes 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 and garage-door services brand ProLift Garage Doors.
“We are excited to partner with Paul Flick and the Premium Service Brands team on this investment,” Mark Tyson, managing director at LBC Small Cap, said. “PSB is a leader in the home service franchise market and the company is well positioned for future growth.”
