NEW YORK, March 4, 2008 /PRNewswire/ — Golub Capital today announced that it has provided $23.8 million of senior debt, subordinated debt and co-investment equity in support of KRG Capital Partners’ acquisition of Tri-County Petroleum, Inc. (TCP).
KRG completed its investment in Tri-County Petroleum, a leading specialty distributor of industrial and commercial lubricants, in December 2007. Post acquisition, Golub Capital signed on to provide debt financing. The financing will be used to support the continued organic and acquisitive growth of TCP. Golub Capital, along with KRG, believes that the markets in which TCP operates will continue to consolidate and present opportunities for TCP to be the partner of choice for other lubricant distributors looking to participate in the development of a multi-regional platform with the highest standards of customer service.
“We are pleased to partner with KRG Capital. KRG made a great investment to support TCP’s strategy and we are glad to have provided the financing. TCP has strong growth potential and Golub Capital is looking forward to watching the company flourish. We have invested in several KRG deals, and we are excited to help KRG portfolio companies execute on their strategies,” said Golub Capital Managing Director Joseph Longosz.
“Golub Capital has proven to be a great partner on other KRG platforms,” says Damon Judd at KRG Capital. “We are pleased to have them as a partner on this deal as we work together with management to grow the business.”
Golub Capital lends to a broad range of U.S.-based mid-market companies and initially invests between $5 million and $75 million with additional capital available for growth.
About Golub Capital
Golub Capital is an active provider of GOLD (Golub Capital’s One-Loan Debt Facility), senior and subordinated debt, second lien debt, preferred stock, and co-investment equity to middle market companies. The firm is committed to being a value-added and user-friendly partner to owners, senior management and transaction sponsors. With a broad investment mandate and long-term time horizon, Golub Capital has a high level of flexibility in structuring investments. Golub Capital is a national firm with offices in Atlanta, Chicago, New York and San Francisco. For more information, please visit www.golubcapital.com.
SOURCE: Golub Capital