Caltius Mezzanine Finances Management-Led Buyout of Pearl Meyer & Partners
August 30, 2010
Los Angeles, CA, August 2010 – Caltius Mezzanine (“Caltius”) is pleased to announce the recent closing of an investment in Pearl Meyer & Partners (“PM&P”), a leading independent executive compensation consulting firm. Proceeds from Caltius’ investment were used to help finance the management-led buyout of a passive equity investor.
For over 20 years, PM&P has served as a trusted advisor to Boards and their senior management in the areas of governance, strategy and compensation program design. Clients from the Fortune 500 to not-forprofits and emerging high-growth companies rely on PM&P to help align rewards with long-term business goals to create value for all stakeholders: shareholders, executives, and employees.
The shareholder buyout transaction was financed with the proceeds from Caltius’ subordinated debt facility, a new senior debt facility provided by the Bank of Texas, and common equity investments made by Benson Botsford, LLC and approximately 30 executives and managing directors of PM&P.
“Caltius’ creative financing package enabled us to take advantage of an attractive opportunity to increase our ownership stake in our growing business,” noted David Swinford, President and CEO of PM&P. “The Caltius team worked hard to structure a deal that was attractive to all parties involved, and all of the senior partners at PM&P are excited to collectively build the equity value of our firm.”
“We are impressed with the quality and depth of the PM&P management team,” stated Michael Kane, Managing Director of Caltius Mezzanine. “We believe PM&P is poised to continue to increase its market share, and Caltius is excited to support PM&P in that effort.”
Based in Los Angeles, Caltius Mezzanine provides innovative capital solutions in amounts of $10 to $75 million to middle market companies throughout North America. Since its founding in 1997, Caltius Mezzanine has invested over $500 million in a broad range of industries to support acquisitions, recapitalizations, buyouts, and organic growth. Caltius Mezzanine is currently investing out of its fourth fund, Caltius Partners IV, LP, a $500 million fund that closed in 2008. For more information or to refer an investment opportunity, please call us at (310) 996-9585.