This pre-existing financing arrangement places Sunbelt in the unique position of having expanded funding capabilities ready now to close good deals quickly. Chatham is a great partner who will help us find and close the best deals in the market.
Coral Gables, Florida (PRWEB) October 15, 2008
Sunbelt Diversified Enterprises, LLC (Sunbelt) has obtained a senior secured facility from Chatham Capital. The majority of Sunbelt's existing debt was refinanced with a portion of the proceeds, with the balance immediately available to Sunbelt for funding future acquisitions. Sunbelt is a Coral Gables, Florida based private equity holding company focused on acquiring and growing great companies in the lower middle market, concentrating geographically on the U.S. Southeast.
James R. Tolzien, Sunbelt's CEO, stated: "This pre-existing financing arrangement places Sunbelt in the unique position of having expanded funding capabilities ready now to close good deals quickly. Chatham is a great partner who will help us find and close the best deals in the market." He added, "Potential platform and add-on company management, as well as their advisors, will find this situation a real plus for working with Sunbelt. We have always been known to be straight shooters and deliver on our promises during the transaction process. Our ability now to quickly and reliably fund a larger variety of transactions really distinguishes us in our portion of the market. It augments our already significant capabilities to help a company's management really grow their business."
Ladenburg Thalmann structured and acted as exclusive financial advisor on behalf of Sunbelt Diversified Enterprises, LLC. Chatham is an Atlanta-based private investment fund.
About Sunbelt Diversified Enterprises, LLC
Sunbelt Diversified Enterprises, LLC (Sunbelt) is a private equity holding company focused on acquiring great companies in the lower middle market, partnering with management to build even greater value, and holding these companies for the long term. Based in Coral Gables, Florida, Sunbelt seeks companies in the 13 southeastern states of Virginia, North Carolina, South Carolina, Georgia, Florida, Alabama, Mississippi, Louisiana, Texas, Oklahoma, Arkansas, Tennessee and Kentucky. As the name "Diversified" implies, Sunbelt is building a varied portfolio and is open to investments in manufacturing, distribution and basic service companies with strong management, earnings and market share. Good candidates for acquisition by Sunbelt include companies with a history of success and profitability, straight forward business models, and recurring EBITDA of at least $1.5 million. Sunbelt welcomes working with advisors and intermediaries and will lower its threshold criteria for add-on acquisitions to existing portfolio platform companies.
About Ladenburg Thalmann Financial Services
Ladenburg Thalmann Financial Services, included in the Russell 2000(R) and Russell 3000(R) indices, is engaged in retail and institutional securities brokerage, investment banking, research and asset management services through its principal operating subsidiary, Ladenburg Thalmann & Co. Inc. Founded in 1876 and a New York Stock Exchange member since 1879, Ladenburg Thalmann & Co. is a full service investment banking and brokerage firm providing services principally for middle market and emerging growth companies and high net worth individuals. Ladenburg Thalmann Financial Services is based in Miami, Florida. Ladenburg Thalmann & Co. is based in New York City, with regional offices in Miami and Boca Raton, Florida; Melville, New York; Lincolnshire, Illinois; Los Angeles, California; Princeton, New Jersey; Houston, Texas; and Columbus, Ohio. Ladenburg Thalmann Financial Services also owns Investacorp, Inc., a leading independent broker-dealer headquartered in Miami Lakes, Florida. For more information, please visit http://www.ladenburg.com.
About Chatham Capital
Chatham Capital is an Atlanta-based investment fund manager with approximately $700 million under management. Since 2001, Chatham has focused on investing in middle-market companies utilizing both senior and mezzanine structures. Chatham provides capital for organic growth, acquisitions, buyouts, divestitures, recapitalizations, and distressed/turnaround situations. Targeted industries include healthcare, manufacturing, distribution, business services, and retail.