Key Takeaways
- • TPG Twin Brook Capital Partners closed four debt financing transactions across sponsor-backed deals in construction, media, auto parts distribution, and project management sectors, demonstrating continued activity in lower middle-market lending.
- • The transactions included two Kinderhook Industries-backed deals (US Masonry & Building Products' acquisition of Davis Supply, and a CAP-KSI facility upsize with add-on acquisition), plus financings for Dominus Capital's acquisition of Creative Outdoor Advertising and NMS Capital's acquisition of Brownstone Construction Group via CSL Consulting.
- • Creative Outdoor Advertising, acquired by Dominus Capital, operates the largest street-level media network in North America with over 37,000 advertising faces across 320 municipalities in the U.S. and Canada, representing significant scale in the outdoor advertising sector.
- • TPG Twin Brook specializes in cash-flow based financing for lower middle-market companies with EBITDA typically between $3 million and $50 million, positioning itself as a focused provider for private equity sponsors in this segment with customized solutions supporting leveraged buyouts, add-on acquisitions, and recapitalizations.
Summary
TPG Twin Brook Capital Partners, the middle-market direct lending arm of TPG, announced the successful closing of four debt financing transactions serving as administrative agent across multiple sponsor-backed acquisitions and growth initiatives. The closings demonstrate continued lending activity within the lower middle market, a segment where Twin Brook has established itself as a primary capital provider since its 2014 founding.
The transaction portfolio spans four distinct industries and three separate sponsors. Kinderhook Industries received dual financings: one supporting US Masonry & Building Products' acquisition of Davis Supply, a Southeast-based distributor specializing in structural reinforcement solutions, and a second providing facility expansion and acquisition financing for CAP-KSI, an aftermarket collision parts distributor seeking to expand its national footprint. The third financing backed Dominus Capital's leveraged buyout of Creative Outdoor Advertising, positioning the company as the largest street-level media provider in North America with operational reach spanning over 37,000 advertising faces across 320 municipalities throughout the U.S. and Canada. The fourth transaction supported NMS Capital's acquisition of Brownstone Construction Group through its platform company, CSL Consulting LLC, adding capabilities in capital project management with focus on education, healthcare, and municipal infrastructure sectors.
TPG Twin Brook's strategic positioning within the lower middle market targets companies generating between $3 million and $50 million in EBITDA, with particular emphasis on businesses under $25 million. The firm offers customized, cash-flow based capital solutions supporting a range of sponsor needs, including leveraged buyouts, recapitalizations, growth investments, and add-on acquisitions. This closed transaction set reflects that diversified mandate across multiple industries and deal structures, reinforcing Twin Brook's role as an active participant in sponsor-backed financing within its defined market segment.
The transaction portfolio spans four distinct industries and three separate sponsors. Kinderhook Industries received dual financings: one supporting US Masonry & Building Products' acquisition of Davis Supply, a Southeast-based distributor specializing in structural reinforcement solutions, and a second providing facility expansion and acquisition financing for CAP-KSI, an aftermarket collision parts distributor seeking to expand its national footprint. The third financing backed Dominus Capital's leveraged buyout of Creative Outdoor Advertising, positioning the company as the largest street-level media provider in North America with operational reach spanning over 37,000 advertising faces across 320 municipalities throughout the U.S. and Canada. The fourth transaction supported NMS Capital's acquisition of Brownstone Construction Group through its platform company, CSL Consulting LLC, adding capabilities in capital project management with focus on education, healthcare, and municipal infrastructure sectors.
TPG Twin Brook's strategic positioning within the lower middle market targets companies generating between $3 million and $50 million in EBITDA, with particular emphasis on businesses under $25 million. The firm offers customized, cash-flow based capital solutions supporting a range of sponsor needs, including leveraged buyouts, recapitalizations, growth investments, and add-on acquisitions. This closed transaction set reflects that diversified mandate across multiple industries and deal structures, reinforcing Twin Brook's role as an active participant in sponsor-backed financing within its defined market segment.
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