FOR IMMEDIATE RELEASE
August 29, 2019
Byline Sponsor Finance supports Kian Capital in its recapitalization of The Eastwood Company
Byline Bank Sponsor Finance (“BSF”) announced that it has provided revolver and term credit facilities to finance Kian Capital’s recapitalization of The Eastwood Company (“Eastwood”). BSF was represented by Duane Morris, LLP.
Founded in 1978, Eastwood is a leading e-commerce provider of branded professional grade automotive tools, equipment and supplies to the Do-It-Yourself (“DIY”) automotive enthusiast community. The Company has an in-house research & development team with a proven ability of bringing innovative new tools and solutions to the DIY market. Eastwood’s depth of product development knowledge, combined with industry leading customer service and its thousands of “how-to” videos, provide automotive enthusiasts with a one-stop shop for all of their restoration and customization needs.“Eastwood has long been recognized as the leader for DIY auto enthusiasts. We are excited to be able to partner with Kian, management and a company that is well positioned to continue its commitment to quality and service” said Dan Delgadillo, Managing Director and Co-Head of Byline Sponsor Finance.
About Byline Sponsor Finance
Byline Sponsor Finance, with offices in Chicago, IL and Bethesda, MD 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 $5.4 billion in assets and operates more than 60 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 five Small Business Administration lenders in the United States.
About Kian Capital
Kian Capital, an investment firm with over $425 million of capital under management, provides transformative capital solutions to established lower middle-market companies, often serving as the first institutional capital provider to closely held businesses. Kian Capital has the flexibility to participate in all forms of junior capital, including common stock, preferred equity and subordinated debt. Investments typically incorporate both equity and subordinated debt and Kian Capital can act in either a control or non-control capacity. Kian Capital has offices in Atlanta, GA and Charlotte, NC. For more information, please visit www.kiancapital.com
For more information please contact:
Dan Delgadillo, Managing Director
Co-Head, Byline Sponsor Finance
Jim Kuncl, Managing Director
Co- Head, Byline Sponsor Finance