Caltius Mezzanine Provides Junior Capital Financing to GLM Energy Services, LLC
September 7, 2016
Caltius Mezzanine is pleased to announce the recent closing of a mezzanine debt and significant minority equity investment in GLM Energy Services, LLC (“GLM”) as part of a transaction in which D’Orazio Capital Partners, LLC (“DCP”), a Chicago-based private equity firm, partnered with GLM’s management and Caltius to acquire the operating assets of GLM, Inc.
Established in 1970, GLM is a provider of components, maintenance, and repairs to gas turbines, centrifugal gas compressors, pumps, gearboxes, and generators to the energy industry. GLM specializes in overhaul and parts manufacturing of Solar, GE, and Siemens gas turbines and is a certified GE Distributor and Green Tag repair center providing the highest quality of repair and expertise concerning GE valves. Based in Kenai, Alaska, GLM provides service to both Alaska and the Continental United States.
“We are pleased to partner with the Caltius team. Caltius worked hard to quickly understand GLM and the market opportunity we see. Importantly, Caltius was able to provide a full junior capital solution, involving both debt and equity investments, that gave us certainty of close as we worked through the investment process” noted John Broucek IV, Principal and Chief Investment Officer at DCP. “We look forward to working with Caltius as our investment partner in GLM.”
“We have been impressed with GLM’s management team, differentiated product offering and unique market position,” stated Gavin Bates, Managing Director of Caltius. “We are excited to partner with management and DCP in their plans to continue to grow GLM.”
For over 19 years, Caltius Mezzanine has been providing innovative capital solutions to small and mid-sized companies throughout North America, deploying more than $1.0 billion of junior capital. For more information about our investment criteria, portfolio, and our team, please visit www.caltiusmezzanine.com or call us at (310) 996-9585.