FOR IMMEDIATE RELEASE
February 14, 2019
Byline Sponsor Finance Group supports Wincove Private Holdings, LP’s combination of Hovair Automotive with current investments, Rhino Assembly Company and The Tool House.
February – Byline Bank’s Sponsor Finance Group (“BSFG”) announced that it increased existing credit facilities to finance Rhino Assembly Company’s combination with Hovair Automotive. Wincove Private Holdings, LP made an initial investment in Rhino Assembly Company, LLC in 2017 and The Tool House, LLC in 2018. The businesses have been combined to form Rhino Tool House, a leading provider of engineered assembly solutions and other material handling products used in heavy manufacturing. BSFG was represented by Duane Morris, LLP.
Hovair Automotive is a full service supplier specializing in bulk material handling equipment. “The Hovair product lines and customer set are a great complement to the core Rhino and Tool House businesses. We are excited to continue to be a partner with Wincove and management in their growth strategy ” said Dan Delgadillo, SVP of Byline Bank’s Sponsor Finance Group.
About Byline Sponsor Finance Group
Byline Sponsor Finance Group, with offices in Chicago, IL and 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 $4.9 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 Wincove Private Holdings, LP
Wincove Private Holdings is an investment holding company that creates long-term capital appreciation for its shareholders by partnering with business owners, entrepreneurs and management teams to build market-leading companies. With offices in Boston and NY, Wincove has a permanent capital base, and can therefore stay invested in its partner companies for an unlimited time horizon. For more information, visit www.wincove.com.
For more information please contact:
Dan Delgadillo, SVP
Sponsor Finance Group, Byline Bank
Jim Kuncl, SVP
Group Head, Sponsor Finance Group, Byline Bank