LBC Credit Partners, one of the leading providers of financing solutions to middle market companies, provided a senior secured credit facility to support the acquisitions of Diversified Air Systems and Swanson Flo, Co. by Motion & Control Enterprises, a portfolio company of Frontenac.
LBC served as Agent for the senior secured credit facility.
Founded in 1979 and based in Ohio, DAS is a full service, stocking distributor of air compressors and related products, including vacuum & water recovery systems, nitrogen/oxygen generators, cooling towers, and chillers. DAS also provides a full offering of repair, routine service, and aftermarket parts. DAS serves industrial markets in Ohio, West Virginia, and Western Pennsylvania.
Based in Minnesota, Swanson Flo is a regional distributor of process instrumentation, flow control valves, actuators, and related equipment. Swanson Flo also provides critical value-added services, including actuated valve assemblies, field services, and shop repairs. Swanson Flo serves industrial and municipal markets in 13 states in the upper Midwest and beyond, and has warehouse locations in Minnesota, Wisconsin, Illinois, and Indiana.
Founded in 1951, MCE is a leading supplier of technical fluid power, lubrication, compressed air and flow control products that solve customer problems across fluid connector, hydraulic, pneumatic, compressed air, process valve and instrumentation technologies. MCE services more than 15,000 MRO and OEM customers from 13 distribution centers and 16 retail locations across Pennsylvania, Michigan, Indiana, Illinois, Ohio, Wisconsin and Minnesota.
Frontenac is a Chicago-based private equity firm focusing on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with established operating leaders through an executive-centric approach called CEO1ST, which seeks to identify, acquire, and build market-leading companies through transformational acquisitions and operational excellence. Over the last 50 years, Frontenac has built a leading franchise working with over 275 owners of mid-sized businesses as they address complex transition issues of liquidity, management enhancement, and growth planning.
About LBC Credit Partners
LBC Credit Partners provides middle market and small-cap financing solutions supporting sponsored and non-sponsored transactions throughout the U.S. across a broad range of industries. With over $3 billion of capital commitments, we have provided in excess of $7.4 billion to over 250 issuers throughout our 16-year history. * LBC is headquartered in the Philadelphia area and has offices in Atlanta, Chicago, Los Angeles and New York. To learn more, visit www.lbccredit.com. *Information as of September 30, 2020.