Caltius Structured Capital Provides Debt & Equity to Paramount Mechanical Corp
April 15, 2021
Caltius Structured Capital (“Caltius”) is pleased to announce the recent closing of a debt and equity investment in Paramount Mechanical Corp. (“Paramount”) in partnership with Stonebridge Partners (“Stonebridge”), a White Plains, NY-based lower middle-market private equity firm, Paramount’s founder, Mark Cronin, Midwest Mezzanine Funds, and other debt and equity investors.
Paramount (https://www.paramount-mech.com/), headquartered in Manassas, VA, designs, installs, and services complex Mechanical/HVAC, Electric and Plumbing systems throughout the Mid-Atlantic and Southeast U.S. markets. Over the years, Paramount has successfully positioned itself as the preferred service and installation provider for owners and facility managers of complex HVAC and mechanical systems. Customers include large industrial and multi-family residential complexes as well as federal, state and municipal government agencies. Complementing Paramount’s experienced management team will be Stonebridge Operating Partner Greg Goulette who has a successful record managing other project-management and infrastructure businesses.
“The Caltius team was knowledgeable and thorough, and ran a very smooth diligence and closing process,” said Stephen Hanna, Managing Director of Stonebridge. “With their help, we will expand market share more rapidly and build incremental value through continued organic growth and strategic acquisitions.”
“We have been impressed with Paramount’s leadership team, differentiated capabilities, and strong reputation across diverse end markets,” stated Gavin Bates, Managing Director of Caltius. “We are excited to partner with management and Stonebridge in their plans to continue to grow Paramount.”