FOR IMMEDIATE RELEASE
April 2, 2018
Byline Sponsor Finance Group announces it has increased existing senior credit facilities to support Alston Capital Partners’ add-on acquisition of P4C Global to current platform Battery Solutions LLC
Byline Bank’s Sponsor Finance Group (“BSFG”), the cash flow lending division of Chicago-based Byline Bank, announced that it increased revolving and term credit facilities to finance Battery Solutions LLC’s add-on acquisition of P4C Global. Alston Capital Partners partnered with BSFG to recapitalize Battery Solutions LLC in 2016. Centerfield Capital Partners and Alcentra Capital Corporation hold both mezzanine and equity investments in the deal. BSFG was represented by Duane Morris LLP.
Battery Solutions is a leading provider of customized battery recycling solutions which include program design, collection systems, logistics, disassembly, chemistry identification, sorting, separation, processing, regulatory compliance, and documentation. P4C Global is an electronics reuse and recycling company that specializes in asset recovery and reverse logistics for the wireless industry including cellphone and related electronics and accessories such as batteries, chargers, headphones, power cables, and plugs mostly related to the electronic mobility market. The combination provides increased reuse and recycling solutions for an expanding customer base, offering the most efficient environmental and economic outcomes.
“We are pleased to be able to support Alston Capital and the strong management team at Battery Solutions LLC with the accretive acquisition of this complementary business,” said Jim Kuncl, Senior Vice President of Byline Bank’s Sponsor Finance Group. “The combination of the two companies and their strong management teams will allow the business to deliver a broader range of solutions for its customers and better serve its respective markets.”
About Byline Sponsor Finance Group
Byline Sponsor Finance Group, headquartered in Chicago, IL with offices in Atlanta, GA, provides senior secured cash flow loans to private equity backed lower middle market companies throughout the United States. BSFG focuses on companies that generate EBITDA between $2 million and $10 million with products that support the acquisition, recapitalization, and growth investment efforts of private equity firms operating in the lower middle market. For more information visit: www.bylinebank.com/sponsor-finance.
About Byline Bank
Headquartered in Chicago, Byline Bank, a subsidiary of Byline Bancorp, Inc. (NYSE:BY), is a full service commercial bank serving small- and medium-sized businesses, financial sponsors, and consumers. Byline Bank has approximately $3.4 billion in assets and operates more than 50 full service branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and retail banking products and services including small ticket equipment leasing solutions and is one of the top 10 Small Business Administration lenders in the United States.
About Alston Capital Partners
New York, New York based private equity firm Alston Capital Partner is a hands-on value-added investor that is focused on control buyouts, recapitalizations, corporate divestitures, growth equity, turnarounds, and minority investments in the environmental, technology, and specialty manufacturing sectors. The firm’s principals have over 40 years of cumulative private equity and direct operating experience and deep industry knowledge in the target sectors. The firm targets investments principally in the environmental, technology, and specialty manufacturing sectors that generate between $5 million and $20 million of EBITDA. For more information, visit: www.alstoncapital.com
For more information please contact:
Dan Delgadillo, SVP
Sponsor Finance Group, Byline Bank
Jim Kuncl, SVP
Group Head, Sponsor Finance Group, Byline Bank