FOR IMMEDIATE RELEASE
September 5, 2017
Byline Sponsor Finance Group increases credit facility of Dedoes Industries, a portfolio company of Ashland Capital Partners
Byline Bank’s Sponsor Finance Group (“BSFG”), the cash flow lending division of Chicago-based Byline Bank, announced that it increased the credit facilities of Dedoes Industries (“Dedoes”), a portfolio company of Ashland Capital Partners, to further support the Company’s objectives. BSFG provided the initial acquisition financing in 2016. Increased junior debt financing was provided by Graycliff Partners.
Dedoes is one of the world’s leading manufacturers of equipment solutions for the automotive refinish industry. “The Company serves an impressive list of the major paint brands worldwide” says Dan Delgadillo, SVP of Byline Bank’s Sponsor Finance Group. “We were excited to partner with Ashland Capital during the initial acquisition and support them with this most recent increase to the Company’s credit facilities”.
About Byline Sponsor Finance Group
Byline Sponsor Finance Group, with offices in Chicago, IL and Charleston, SC, 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 had $3.3 billion in assets at June 30, 2017, 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 Ashland Capital Partners
Ashland Capital is a Chicago-based private investment firm devoted to investing in and growing companies in the lower-middle market. Ashland acquires controlling interests in companies with values ranging from $10 million to $50 million and strengthens these businesses with targeted, strategic guidance. They invest for the long term, partnering with in-place visionary management teams to create lasting business value. For more information visit www.ashlandcap.com.
About Graycliff Partners
Graycliff Partners is an independent investment firm focusing on middle market private equity and mezzanine investments in the United States and Latin America. The Graycliff team has worked together for almost two decades originally as part of HSBC Capital. With offices in New York and São Paulo, Graycliff seeks to partner with companies led by strong, entrepreneurial management teams, providing capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information visit www.graycliffpartners.com.
For more information please contact:
Dan Delgadillo, SVP
Sponsor Finance Group, Byline Bank
Jim Kuncl, SVP
Group Head, Sponsor Finance Group, Byline Bank