Tree Line Capital Partners provided a $26 million first lien credit facility to PumpMan Holdings. The facility consists of a funded term loan, a delayed draw term loan and a revolver.
The funding will be used to support future platform acquisitions and growth initiatives.
Dating back to 1976, PumpMan is a nationwide provider of pump service and repair. The company focuses on serving the needs of pump end-users to optimize the performance and reliability of their pumping systems, providing onsite service, repair, parts and expertise to the commercial, municipal and industrial markets in Southern California, Northern California, Philadelphia, Phoenix, Pittsburgh, and the New York Metro area.
PumpMan is a portfolio company of Soundcore Capital Partners.
“We’re excited to begin our partnership with Tree Line,” said Soundcore Managing Partner Feliks Zarotsky. “Tree Line’s creative structuring and flexible capital solution will be instrumental to PumpMan’s strategy of acquiring and integrating pump service and repair companies across North America. We look forward to continuing to build our relationship with Tree Line.”
Frank Cupido, partner at Tree Line, added, “The investment in PumpMan highlights Tree Line’s ability to provide a tailored debt structure to facilitate near-term and future acquisitions for a growing platform. Tree Line is thrilled to have completed our first deal with the team at Soundcore and are excited to partner with the PumpMan management team as they continue to grow the platform across North America.”
Tree Line provides first lien term loans, unitranche term loans and equity co-investments to lower middle market borrowers with $3 million to $30 million of EBITDA and above in North America in transaction sizes of up to $150 million.
