LBC Credit Partners provided a $12.5 million senior secured term loan to support the acquisition of HeathCo LLC (“HeathCo”) by Transom Capital Group (“Transom Capital”). HeathCo will operate as a standalone entity and focus on existing and planned corporate initiatives to expand on its position as the market leader in the motion-activated lighting and door chime space.
LBC Credit Partners served as sole lender for the senior secured term loan.
Founded in 1987 and based in Bowling Green, Kentucky, HeathCo manufactures and markets electrical products, door chimes, motion-activated lighting, and lighting controls. It offers motion-activated security lighting, utility lighting, motion-activated decorative lighting, down-light lantern, wireless command lighting controls, and motion-activated wall switches. The company also provides wired and wireless door chimes and push buttons. It sells products in over 10,000 retail outlets, including home centers, hardware stores, lighting showrooms, wholesale clubs, and mass merchants in the United States and Canada, as well as dealers and online outlets.
Transom Capital is a Los Angeles-based private equity firm with an operational focus to private equity investing in the middle market. The Transom Capital team has a proven track record of investing in, restructuring, monitoring and growing businesses for the long-term. Key to its success is its approach of heavy operational involvement via its proprietary ARMOR. value creation process that helps unlock intrinsic value at its companies.
LBC Credit Partners is a leading provider of middle-market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions. With over $1.75 billion of capital commitments, LBC has made investments in companies located throughout North America across a wide range of industries and is committed to a long-term approach to debt investing.
Headquartered in Philadelphia, LBC has additional offices in Chicago and Greenwich.