Caltius Mezzanine Hits $1.0 Billion Investment Mark; Successfully Exits Six Deals in 2013
January 14, 2014
Los Angeles, CA, January 2014 – During 2013, Caltius Mezzanine continued to build upon its nearly seventeen year track record of successfully supporting middle market businesses with over $1.0 billion now invested since the firm’s inception. Caltius is a proven flexible and reliable junior capital provider and continues to look for opportunities to partner with management teams, entrepreneurs and financial sponsors to help them achieve their financial and strategic objectives.
Caltius Mezzanine is also pleased to announce the successful realization of six portfolio companies during 2013:
Griplock Systems: Griplock designs and markets cable suspension systems under the GripLock and CableFAST brands. In Aug-08, Caltius provided $9.6 million of mezzanine debt and equity to support the buyout of the company by KCA Partners. In Jul-13, Griplock successfully redeemed Caltius’ debt and equity securities with the proceeds from a new financing.
Mercer Advisors: Mercer provides asset management and practice consulting services to dental practitioners. In May- 08, Caltius provided $46.0 million of mezzanine debt and equity to help finance the buyout of the company by Lovell Minnick Partners. In 2013, the company successfully refinanced all of Caltius’ debt and equity with proceeds from a new debt facility and excess cash.
PlanMember Financial Corporation: PlanMember is a financial services marketing and distribution company that provides retirement advisory programs primarily to the 403(b) K–12 educator market. In Nov-06, Caltius provided $10.3 million of mezzanine debt and preferred stock to help finance the buyout of the company by Lovell Minnick Partners. In Feb-13, a strategic buyer acquired a significant minority interest in the company, resulting in the redemption of Caltius’ debt and equity.
Radiant Logistics: Radiant Logistics is a publicly traded asset-light third party logistics company, providing domestic and international freight forwarding services. In Dec-11, Caltius provided $10.0 million of mezzanine debt to provide capital for the company’s acquisition strategy. In Dec-13, Caltius’ debt was fully redeemed with proceeds from a public offering of Series A Cumulative Redeemable Perpetual Preferred Stock. Caltius continues to retain the equity securities it received in connection with its mezzanine debt investment.
UHY Advisors: UHY is a national professional services firm specializing in accounting and tax services. Caltius invested $37.5 million of mezzanine debt in Dec-06 to refinance existing debt. In Oct-13, UHY successfully redeemed all of Caltius’ debt and equity securities with the proceeds from a new credit facility.
Universal Services of America (“USA”): USA is one of the largest providers of security guard services in the United States. Caltius invested $100.0 million of mezzanine debt in USA between 2009 and 2013 during which time the company completed more than 15 acquisitions while also achieving consistent organic growth. In Jul-13, USA was recapitalized by a financial buyer resulting in the full realization of Caltius’ debt and equity interests.
Based in Los Angeles, Caltius Mezzanine provides innovative capital solutions in amounts of $10.0 to $100.0 million to middle market companies throughout North America. Since its founding in 1997, Caltius Mezzanine has invested over $1.0 billion 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 which has capital commitments in excess of $500 million. For more information or to refer an investment opportunity, please call us at (310) 996-9585.