TCF Capital Funding, a division of TCF National Bank, announced that it provided $12.75 million in secured financing to support Wincove Private Holdings, LP in its acquisition of Bluff Manufacturing (“Bluff” or the “Company”). Wincove partnered with the company’s management in this transaction.
Headquartered in Fort Worth, TX, Bluff is a leading provider of industrial equipment that enhances the safety and efficiency of loading docks and warehouses. The company’s products, which include yard ramps, dock boards, dock levelers, safety rails, machine guards, mezzanines, stairways, work platforms and cantilever racks, are known industry-wide by the “Bluff Blue” markings, which have come to be synonymous with quality and excellence. Bluff serves the entire U.S., Canada, Central and South America, and the Caribbean through a broad distributor network supported by the Company’s five warehouses.
“Bluff has an extremely diverse customer base and provides the highest quality products and the shortest lead times in the industry." said TCF Capital Funding Senior Vice President Ed Ryczek. "We were excited to have the opportunity to support Wincove’s acquisition of Bluff and look forward to supporting the Company's long-term growth plans.”
TCF Capital Funding provides cash flow and asset-based lending to lower middle market businesses. National in scope, this senior leveraged lending group focuses on providing private equity sponsor-backed cash flow loans and asset-based loans to companies with less than $100 million in revenue and between $2 million and $10 million in EBITDA.
TCF is a Wayzata, Minnesota-based national bank holding company. As of March 31, 2016, TCF had $21.3 billion in total assets and 376 branches in Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona, South Dakota and Indiana, providing retail and commercial banking services. TCF, through its subsidiaries, also conducts commercial leasing, equipment finance, and auto finance business in all 50 states and commercial inventory finance business in all 50 states and Canada.
Wincove Private Holdings is an investment holding company that creates long-term capital appreciation for its shareholders by partnering with business owners, entrepreneurs and management teams to build market-leading companies. With offices in Boston and NY, Wincove has a permanent capital base, and can therefore stay invested in its partner companies for an unlimited time horizon.