News

Patriot Capital, a multi-strategy middle market investment firm, is pleased to announce a new investment to support Libra Industries (“Libra”), an existing portfolio company of CW Industrial Partners.

Headquartered in Dayton, OH, Libra is a systems integrator acting as a fully outsourced manufacturing partner to its customers by providing complex and clean room assembly, PCBA/EMS manufacturing, metal fabrication and precision machining, and other capabilities. Libra provides complete manufacturing solutions to the Semi-Cap, Industrial, Medical, Military/Aerospace, and Robotics markets from its facilities in Dayton and Cleveland, OH, Dallas, TX, and Mexico.

Matt Lombardo, a Partner with CW Industrial Partners, commented, “We’ve known the Patriot team for years and are excited to finally partner with them in Libra to support the next stage of the Company’s growth. They have a stellar reputation with deep expertise in the sector. It was a pleasure to work with them on a seamless transaction.”

For more information on this transaction, please contact:
Jonathon Cope, Partner
Zac Davliakos, Associate

Patriot Capital, a multi-strategy middle market investment firm, is pleased to announce a new debt and equity co-investment in the acquisition of PACCAR Winch, Inc. (“PACCAR Winch” or the “Company”), a leading manufacturer of hydraulic winch, hoist and drive systems and related parts and service for industrial applications across a variety of end markets and end users. Our investment supported the acquisition of PACCAR Winch by The Black Phoenix Group, a Chicago-based private investment firm.

Based in Broken Arrow, OK, the PACCAR Winch family includes the BRADEN, CARCO and Gearmatic brands which are time tested and industry trusted since 1924. The Company is a market leader in innovation, engineering and servicing products critical to its customers and end users across the industrial ecosystem globally. Patriot Capital provided debt and equity to support the acquisition of PACCAR Winch from PACCAR (Nasdaq:PCAR).

Bryce Fisher and Mark Pickett, partners at The Black Phoenix Group, said, “We are thrilled to welcome PACCAR Winch into The Black Phoenix Group family. The Company’s strong market position and commitment to quality aligns perfectly with our investment strategy to acquire leading American businesses led by excellent management teams.”

“The opportunity to join The Black Phoenix Group and the PACCAR Winch management in driving the next chapter of the Company’s story is exciting to us on many levels, from the Company’s legacy strength and market leadership to the people within and partnered with the business,” added Charles Adams, Associate Managing Director at Patriot Capital.

Patriot partnered in this investment with Bluehenge Capital Partners, a Baton Rouge-based private equity and private credit investment firm.

For more information on this transaction, please contact:
Charles Adams, Associate Managing Director
Sean Bilbrough, Vice President

Patriot Capital, a multi-strategy middle market investment firm, is pleased to announce a new debt and equity co-investment in Quality Brand Group (“QBG” or the “Company”), formed in 2018 by MRE Capital and Blue Marlin Partners.

QBG is one of the largest franchisees in the Dunkin’ and Buffalo Wild Wings GO system with over 180 locations today across five states – Arizona, Florida, Colorado, Nevada, and Texas. Patriot Capital provided debt and equity to support the acquisition of another Dunkin’ franchisee and the Company’s debt refinancing.

“We are thrilled to work with Patriot on Quality Brand Group. Our teams were aligned culturally from day one and we valued their thoughtful perspectives and timely execution. They were communicative throughout the process and did exactly as they said they would. We look forward to many more opportunities to partner with the Patriot team,” said Jon Schwartz, Partner at MRE Capital.

For more information on this transaction, please contact:
Stacey Wittelsberger, Partner
Alex Tyroler, Senior Associate
Trinh Le, Analyst

Patriot Capital, a multi-strategy middle market investment firm, is pleased to announce its recent debt and equity co-investment to support the recapitalization of Long Island Waste Services (“LIWS” or the “Company”), a locally owned and operated waste management company located on Long Island, NY, that provides solid waste solutions to commercial, residential, and industrial customers.

Patriot partnered with Terramont Infrastructure Partners, a North American middle market-focused infrastructure investment firm, Comerica Bank, and Tecum Capital partners in its investment in LIWS. Dickson Suit of Environmental Services Investors served as advisor for LIWS.

LIWS’ comprehensive services encompass efficient waste collection, state-of-the-art transfer stations, materials recovery facility and environmentally responsible disposal. LIWS specializes in materials processing and commodities recycling where various recyclables such as cardboard, paper, metals and construction materials are recovered for resale or alternatives applications.

For more information on this transaction, please contact:
Sean Bilbrough, Vice President
Charles McCusker, Managing Partner
Trinh Le, Analyst

Patriot Capital, a multi-strategy middle market investment firm, is pleased to announce a recent investment in TCB Franchising, a portfolio company of Eagle Merchant Partners.

TCB Franchising, headquartered in Memphis, TN, is a leading home and commercial services franchisor in the U.S. and Canada. Patriot provided capital to support the continued growth of TCB Franchising’s portfolio of brands, AmeriSpec® Inspection Services, Furniture Medic® and its new brand, Renew Medic™.

Founded in 1987, AmeriSpec® is a residential and commercial property inspection company with a North American network of highly trained, experienced inspectors.

Founded in 1992, Furniture Medic® offers furniture and wood repair, fabrication and refinishing services in the commercial and residential sectors.

Founded in 2024, Renew Medic™ is a specialty cabinet restoration company that capitalizes on the growing demand in the $210 billion global restoration services market and caters to insurance carriers, policyholders, claims adjusters & mitigation professionals.

For more information on this transaction, please contact:
Jonathon Cope, Principal
Alex Tyroler, Senior Associate

Patriot Capital, a multi-strategy middle market investment firm, is pleased to announce a new investment to support an add-on acquisition for Clean Water Environmental Services (“CWES”), an existing portfolio company of Rockwood Equity Partners.

Headquartered in Parker, CO, CWES is a platform holding company for providers of erosion control and storm water management services. CWES provides erosion and sediment control, stormwater management and remediation, land reclamation, pollution prevention, water quality and detention systems, consulting services (SWMP, SWPPPs, permitting, training, engineering, audits, compliance support), as well as installing and providing products such as silt fences, straw mats, hydroseed and wattles, and more for residential, commercial, and municipal land developers.

Patriot Capital provided debt to support the add-on acquisition of WBE Environmental, Inc. dba Florida Silt Fencing for the platform.

Florida Silt Fencing is renowned for its specialized installation of silt fences and other erosion control measures across Florida and surrounding states. The company focuses heavily on infrastructure projects, which aligns with CWES’ focus on diversifying its erosion control and storm water management services across end markets, customers, and geographies.

For more information on this transaction, please contact:
Kyle Griffith, Managing Director
Zac Davliakos, Senior Analyst

Patriot Capital, a multi-strategy middle market investment firm, and Guardian Capital Partners, an operationally focused private equity firm based in suburban Philadelphia, are pleased to announce the sale of their portfolio company, Direct Line Global, to CBRE Group (NYSE:CBRE), the world’s largest commercial real estate services and investment firm.

Direct Line, based in Fremont, CA, is a leading technology infrastructure services provider enabling mission-critical data centers for the world’s technology leaders. Direct Line has over 1,000 skilled technicians to deliver data center services across the US and Asia Pacific markets. The Company successfully deploys next-generation infrastructure technologies, including artificial intelligence platforms, across the data center lifecycle – design and planning, installation and post-build maintenance, and technology upgrades and retrofits.

“Patriot’s investment in Direct Line is indicative of our 25-year investment history, where we partner with great platform businesses with strong management teams and disciplined sponsors,” said Managing Partner Charles McCusker. “We are thankful for our partners in this transaction and look forward to great future outcomes for Direct Line.”

Patriot Capital invested in Direct Line in 2018 through Patriot Capital IV, making a senior subordinated debt and equity investment. During the investment period, Direct Line invested to scale its platform, including operations and delivery, data center services offerings, geographic market expansion, and partnership with blue-chip customers. Terms of the transaction are not disclosed.

For more information on this transaction, please contact:
Charles McCusker, Managing Partner
Dan Yardley, Partner

Patriot Capital, a multi-strategy middle market investment firm, is pleased to announce its recent debt and equity co-investment to support the majority recapitalization of Central States Bus Sales, Inc. (“CSBS”), a multi-state dealer of new and used school and commercial buses intended to serve school districts, municipalities and other organizations. Patriot partnered with Independent Bankers Capital Funds, Capital for Business, Konza Valley Capital and Jeff Reitz, President & CEO of CSBS, in its investment in CSBS.

Headquartered in Fenton, Missouri, CSBS is the largest authorized dealer of Blue Bird Corporation (“Blue Bird”) school buses in the United States, exclusively serving Missouri, Illinois, Kentucky, Tennessee, Arkansas, and Alabama. CSBS has a longstanding relationship with Blue Bird, a leading school bus manufacturer with gas, diesel, low- and zero-emission school buses fueled by propane and natural gas, and electric-powered (EV) buses in operation today.

“We are excited to work with our investment partners to ensure the long-term success of our great company and allow it to grow and expand in the future,” commented Jeff Reitz, President & CEO of CSBS. “We are also pleased that we will be able to continue providing excellent new and used buses and quality service to our customers. You can look for continued investment and growth in the future from CSBS as the Company explores additional opportunities to service our customers and expand our coverage territory, as we just recently started doing in the state of Alabama.”

For more information on this transaction, please contact:
Charles McCusker, Managing Partner
Alex Tyroler, Senior Associate

Patriot Capital, a multi-strategy middle market investment firm, is pleased to announce a recent add-on subordinated debt investment, in support of an acquisition by Maysteel Industries, a portfolio company of Littlejohn Capital.

The acquisition of Star Precision, a full service, sheet metal fabrication, precision machining and complete finishing services company, further develops Maysteel’s capabilities and expands Maysteel’s geographical presence with Star’s facility in Colorado.

Kevin Matkin, Chief Executive Officer of Maysteel, said, “Maysteel participates in a diverse set of defined industries that require durable sheet metal solutions. Star Precision is a complementary addition to our growing platform as we continue to scale and diversify our metal production and machining capabilities. Star Precision is an essential piece to our future success and growth, and we are excited to have the company and its people as part of Maysteel.”

Headquartered in Allenton, WI, Maysteel is a manufacturer of custom OEM sheet metal enclosures, electrical cabinets, and metal fabricated assemblies. Patriot initially invested in the platform in December 2017 at the time of Littlejohn and Maysteel’s acquisition of DAMAC Products, LLC.

Angus Littlejohn III, President of Littlejohn Capital, said, “We are very excited to continue our partnership with Patriot. They are a great team to work with and consistently demonstrate the ability to be responsive and thoughtful.”

For more information on Maysteel Industries, please visit www.maysteel.com/.

For more information on this transaction, please contact:
Stacey Wittelsberger, Partner
Zac Davliakos, Senior Analyst