Deal Corner

JUNE 2017

- Patriot Capital Invests in Structural and Steel Products

Patriot Capital is pleased to announce a subordinated debt and equity co-investment in Structural and Steel Products ("SSP" or the "Company"). Patriot's investment supported the acquisition of SSP by an affiliate of Highland Capital Management in partnership with the Company's senior management team.

Structural and Steel Products, founded in 1969, is a major distributor and manufacturer of highway infrastructure and manufactured transportation and communication products. Headquartered in Fort Worth, Texas, SSP manufactures and distributes products used in the highway construction end-market, including overhead sign structures, guardrails, lighting poles, high mast poles, and bridge decking. In addition, the Company manufactures tubular structures used primarily in the communication and power transmission industries.

For more information on this transaction, please contact Chris Royston, Pat Hamner, or Jonathon Cope.

 

MARCH 2017

- Bengur Bryan Advises J.T. Shannon Lumber Company

Bengur Bryan and Equity Partners HG advised The J.T. Shannon Lumber Company on the sale of its Superior Hardwoods division, including its state of the art sawmill located in Montezuma, Indiana to the Baillie Lumber Company of Hamburg, New York.

The J.T. Shannon Lumber Company is a leading manufacturer of precision cut hardwood lumber with revenue of approximately $85 million annually. Up until the sale, J.T. Shannon operated three related businesses: a sawmill/lumber manufacturing business, lumber concentration yards, and an engineered wood flooring manufacturing business.  After the sale of the Montezuma sawmill, the Company’s remaining operations are located predominately in Horn Lake, Mississippi, just outside of Memphis.  In addition, J.T. Shannon has an international sales office in Shanghai, China and sales agents in Europe and Mexico.

Superior Hardwoods is located on a 60-acre site and produces in excess of 27 million board feet of lumber per year.  Due to the favorable growing conditions in the immediate area, the saw mill is able to get a very high percentage of FAS grade lumber.

 

FEBRUARY 2017

- Bengur Bryan Advises Dedicated Transport, LLC

Bengur Bryan was engaged as Dedicated’s exclusive financial advisor for the sale of the company.

Dedicated Transport, LLC is a leading niche, asset-light provider of dedicated contract carriage and specialized logistics services to customers in a broad range of  industries including food products, automotive, corrugated packaging, electric power generation, metal stamping, concrete additives, consumer products and oil & lubricants.

Headquartered in Cleveland, OH, Dedicated utilizes a comprehensive service and technology platform that allows customers to outsource their transportation and logistics requirements and enables them to focus on their core competencies.

 

- Patriot Capital Supports the Acquisition of GT Technologies, Inc.

Patriot Capital is pleased to announce a subordinated debt and equity co-investment in GT Technologies, Inc. (“GT” or the “Company”). Patriot’s investment, alongside senior debt from Bank of America, supported Industrial Opportunity Partners’ acquisition of GT in partnership with the Company’s current management team.

GT Technologies, founded in 1905, is an international supplier of custom-engineered gasoline and diesel engine valvetrain actuation components and assemblies to the global automotive, heavy duty truck and off-road vehicle industries. The Company’s products include rollers, roller finger followers (RFFs), hydraulic lash adjusters (HLAs), stamped rocker arms, roller tappets, and valvetrain actuation assemblies. The Company is headquartered in Westland, Michigan, with manufacturing and assembly operations in Toledo and Defiance, Ohio, Tallahassee, Florida and Curitiba, Brazil, and a prototype center in Millbury, Ohio