Byline Bank’s Sponsor Finance (“BSF”) announced that it has provided additional financing to recapitalize The Eastwood Company (“Eastwood”), a Kian Capital portfolio business. 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 leverage the significant success Eastwood has had in the marketplace and further our partnership with the Company and Kian Capital” 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 Charlotte, NC provides senior secured cash flow loans to private equity backed lower middle market companies throughout the United States. BSF 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/commercial/sponsor-finance/.
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