O2 Sponsor Finance, a division of Old Second National Bank, provided $13,350,000 in senior secured credit facilities to support West Edge Partners acquisition of Dakotaland Autoglass ("DAG" or the "Company").
DAG is a leading distributor and service provider of aftermarket automotive replacement glass, paint & body equipment. The Company has been a leading supplier to autobody shops and glass installation businesses in the Midwest for over 40 years. DAG operates 12 locations across North Dakota, South Dakota, Minnesota and Iowa, with its main distribution center and headquarters in Sioux Falls, SD.
"We are excited that West Edge Partners selected O2 Sponsor Finance as senior lender to support their acquisition of Dakotaland Autoglass. We look forward to supporting DAG's ongoing growth." said Thom Karle, Senior Vice President, O2 Sponsor Finance.
First Capital Partners provided subordinated debt financing and an equity co-investment.
Founded in 1978 and based in Sioux Falls, SD, Dakotaland Autoglass is a leading distributor and service provider of aftermarket automotive replacement glass and paint & body equipment. DAG operates 12 locations across North Dakota, South Dakota, Minnesota and Iowa with its main distribution center in Sioux Falls, SD. For more information, please visit www.dakotalandautoglass.com
O2 Sponsor Finance is a national provider of cash flow-based loans to lower middle market businesses with typically $10 to $100 million in revenue and between $2 million and $10 million in EBITDA. O2 Sponsor Finance focuses on supporting private equity sponsors, independent sponsors and family offices in their acquisition or recapitalization of lower middle market companies.