Corporate Group Assists Middle Market Private Equity Firm with Funding a New Portfolio Company
Lawyers in the Business and Corporate Group represented Boathouse Capital, a Philadelphia area lower middle market mezzanine debt and private equity firm, in connection with the extension of $6 million in subordinated financing to Energy Planning Associates Corp. (EPAC), a custom manufacturer of energy efficient lighting fixtures for commercial applications.
The financing, together with capital from EPAC’s founders and financing from EPAC’s senior lender, provided liquidity to its employees (who owned EPAC through an employee stock ownership plan (ESOP)) as well as capital to facilitate EPAC's growth plans, including new product development and expansion into complementary business lines. The ESOP retained a significant ownership interest in the company that will allow the management team and employees to participate in the company's continued growth.
George Hartnett, Tom Pinney, Bill Hussey, and Jamie Maher worked on the deal for Boathouse Capital.