TCF Capital Funding ("TCFCF"), the Chicago-based cash flow and asset-based lending division of TCF National Bank, announced that it provided financing to support United American Security (“UAS” or the “Company”), a portfolio company of LaSalle Capital (“LaSalle”) in its acquisition of the commercial division of Security Assurance Management, Inc. (“SAM” or the “Company”).
Founded in 1992 by Russell Stephens, SAM provides security guard services to commercial, government, and foreign embassy customers in the greater Washington D.C. area and has developed an outstanding reputation for customer service and responsiveness over its twenty-three year history. Stephens will join the UAS team posting-closing and will remain the primary point of contact with SAM’s current customers.
The acquisition of SAM (the thirteenth completed by UAS since its formation in April 2010) strengthens UAS’ presence in the Washington D.C. area and gives it a leading position in the embassy end market. “The addition of SAM gives us significant scale and greater density in the Washington D.C. market, and expands our service offering to include the specialized services required by foreign embassy clients,” stated Stephen Levine, CEO of UAS. “We are thrilled to partner with Russell Stephens to continue growing the business together.”
“TCF Capital Funding originally supported LaSalle’s portfolio company, United American Security, as a growth platform in the security guard industry. Part of the original investment included growth through several strategic acquisitions, so we’ve been excited to be able to support LaSalle and the Company through several acquisitions including SAM.” Said TCF Capital Funding President Joe Gaffigan.
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 Bank is a wholly-owned subsidiary of TCF Financial Corporation (NYSE: TCB), a Wayzata, Minnesota-based national bank holding company. As of September 30, 2015, TCF had $20.1 billion in total assets and 375 branches in Arizona, Colorado, Illinois, Indiana, Michigan, Minnesota, South Dakota and Wisconsin, 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. For more information about TCF, please visit http://ir.tcfbank.com.
LaSalle is a Chicago-based private equity firm with over $330 million of assets under management that focuses on control investments in lower middle-market companies across the United States. The team of ten investment professionals has over 75 years of investing experience. LaSalle targets companies operating in the food & beverage; outsourced business services; and value-added manufacturing/distribution industries. Typical target companies are family and/or entrepreneurially owned companies with less than $75 million revenue and EBITDA of $2 million to $20 million.