Radnor, PA, June 22, 2011 – After a strong recovery in the global credit markets, Milestone Partners is pleased to announce that four portfolio companies have recently completed refinancing transactions.
- Avure Technologies, a manufacturer of high pressure processing systems, received new senior debt from SEB and subordinated from Proventus Capital, both based in Sweden.
- United Road Towing, the nation’s largest municipal towing company, received a new senior debt facility from GE Antares Capital, Lead Agent. Fifth Third Bank and Citizens Bank also provided senior funds, and subordinated debt was provided by Medley Capital.
- Learn It Systems, an educational services company, received a new senior debt facility from JP Morgan Chase.
- CODi, a producer of laptop cases and mobile computing accessories, obtained a new senior debt facility from TD Bank and subordinated debt from NewSpring Mezzanine Capital.
Adam Curtin, a Principal at Milestone, commented, “We are pleased to assist our portfolio companies in executing refinancing transactions. Each of the four businesses is currently in growth mode and will benefit from stable, long term debt financing.”
Milestone Partners (www.milestonepartners.com) is a private equity firm that partners with management to invest in leveraged buyouts and recapitalizations of lower middle market businesses. Milestone pursues successful niche-market leaders that provide high-margin products or services. Milestone’s transactions typically provide liquidity to shareholders of privately owned businesses, facilitate the transition of ownership to key managers, and allow management to capitalize on growth opportunities, while maintaining the legacy of the founders. Milestone is currently making new platform and add-on investments through Milestone Partners III, L.P., a $240 million fund, as well as making add-on investments through Milestone Partners II, L.P., a $120 million fund.