Patriot Capital

From Wikicompany

Patriot Capital, L.P. is a private equity firm with offices in Baltimore, MD and Chicago, IL.

The firm provides growth capital for middle-market companies seeking to finance business expansion, acquisitions, management buyouts or balance sheet recapitalizations. Patriot Capital II and its predecessor Funds, Allegiance Capital and Patriot Capital I have over $270 million of capital under management.

Investment Criteria

Patriot Capital typically makes subordinated debt and preferred equity investments in acquisitions, management buyouts and recapitalizations that range between $15 and $100 million in enterprise value. Patriot Capital will make business expansion investments between $3 and $15 million. Additionally, Patriot Capital will participate in financings that are significantly larger through its extensive network of regional and national private equity and mezzanine firms.

Company Characteristics:

• Management teams capable of delivering continued profitable growth
• Long-term positive trends and sustainable competitive advantages
• Proven track records of revenue and profit growth in order to service current coupon components of a Patriot investment
• Strong cash flow from operations
• Ability to benefit from the operating and financial experience of Patriot Capital's Investment Team

Industry Focus:

• Business and Consumer Services
• Consumer Products
• Niche manufacturing and distribution
• Education
• e-commerce
• Application software
• Transportation
• Telecommunications Services

The Firm focuses its efforts principally in the Mid-Atlantic, Midwest and Southern United States.

Recent Events

Patriot Capital II

• August 6, 2008 Provided growth capital financing in the form of Subordinated Debt and through participation in a Preferred Stock issuance to AWS Convergence Technologies, Inc. AWS Convergence Technologies is a technology company that connects consumers, businesses, and advertisers with weather content using technology-based solutions.
• August 1, 2008 Completed recapitalization financing in the form of subordinated debt and preferred stock for Instrument Sales and Service, a supply chain management and logistics company providing manufacturing, remanufacturing, sourcing and distribution services of aftermarket automotive parts to the vehicle and heavy duty equipment market.
• July 18, 2008 Held a final closing of Patriot Capital II, L.P. at $180 million. In combination with its two predecessor funds, Patriot Capital I and Allegiance Capital, Patriot Capital has over $270 million of capital under management.
• July 3, 2008 Provided subordinated debt financing in support of the management buyout of PW Stephens Environmental from its parent company.
• June 9, 2008 Completed a growth capital investment in CSS Antenna, a designer and manufacturer of products supporting the wireless telecommunication industry.
• May 1, 2008 Provided subordinated debt financing to support the recapitalization of eServices LLC, a natural gas management services company that provides asset optimization, gas supply and risk management services to local distribution gas utilities, industrials and producers in the Mid-Atlantic area.
• March 1, 2008 Provided financing for the recapitalization and growth of Hope@Home and Aspire Home Care. Hope@ Home provides attendant care services to clients with long term-care needs. Aspire Home Care provides skilled nursing services in an at home environment to its patients.
• February 20, 2008 Invested growth capital in Jane & Company, a company in the mass market cosmetics segment. Patriot Capital provided subordinated debt financing to support the Company’s new product launches and new distribution channel initiatives.
• January 4, 2008 Completed the initial closing of Patriot Capital II with total capital commitments of $145 million. Patriot Capital II is the successor fund to Patriot Capital I and Allegiance Capital. Patriot Capital provides subordinated debt and equity investments for growing U.S. businesses.