RADNOR, PA — LBC Small Cap, an affiliate of LBC Credit Partners, recently provided senior secured credit facilities to Premium Service Brands, a Charlottesville, VA-based multi-brand franchisor and portfolio company of Susquehanna Private Capital. The Company states that the investment will support PSB’s acquisition of The Grout Medic, a 67-location tile and grout cleaning and restoration franchise.
LBC served as Agent and Sole Lead Arranger for the senior secured credit facilities.
The Grout Medic will join a roster of integrated service franchises that include 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,” said Mark Tyson, Managing Director at LBC Small Cap. “PSB is a leader in the home service franchise market and the Company is well-positioned for future growth.”
LBC Small Cap partnered with Modern Bank to provide the senior secured credit facilities.
Modern Bank provides cash flow-based senior debt and unitranche financing to private equity, independent sponsor and entrepreneur-backed companies across the lower and middle markets. They have a strong track record of delivering tailored solutions to support buyouts/acquisitions, recapitalizations, refinancing and growth capital to companies across a diverse set of sectors including manufacturing, distribution, business services, logistics, and healthcare services.
Modern Bank, N.A. is an FDIC-insured Bank and an Equal Housing Lender.
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