Byline Sponsor Finance (“BSF”), a division of Byline Bank, announced that it has provided financing to support Prospect Partners’ investment in Fontanesi & Kann and Architectural Building Components (“Fontanesi & Kann”). BSF was represented by Duane Morris, LLP.
Founded in 1957 and headquartered in Ferndale, Michigan, Fontanesi & Kann is a leading value-added distributor of custom, commercial HVAC solutions, primarily serving the commercial, healthcare and higher education institutional end markets in Michigan and Northern Ohio. Building owners, architects, general contractors and OEMs are deeply reliant on F&K’s engineering expertise through all phases of the HVAC equipment useful life. Additionally, the company provides post-sale electrical contracting and controls integration services that enable it to act as a one-stop shop for customers.
As part of this transaction, Prospect Partners and the Fontanesi & Kann management team established Central States HVAC Solutions, an HVAC distribution and services platform focused on providing commercial customers with top-quality, turnkey products and services. Central States HVAC Solutions will be led by Joe Fontanesi, who has been the Fontanesi & Kann CEO since 1991.
“Byline Sponsor Finance is excited to partner with the Prospect Partners team in another strong investment opportunity,” said Jim Kuncl, Managing Director and Co-Head of Byline Sponsor Finance. “The formation of Central States HVAC Solutions coupled with the leadership from Fontanesi & Kann will provide a strong platform for both organic and acquisitive growth.”
About Prospect Partners
Founded in 1998, Prospect Partners is a Chicago-based private equity firm that invests in pre-middle market companies with less than $75 million of revenue, with a special focus on niche manufacturing, value-added distribution, food and consumer products, and specialty service industries. Prospect Partners has completed over 150 investments since it was founded. For more information, please visit https://www.prospect-partners.com.
About Byline Sponsor Finance
Byline Sponsor Finance, with offices in Chicago and Charlotte, North Carolina, 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 bylinebank.com/sponsor-finance.
For more information, please contact:
Jim Kuncl, Managing Director
Co-Head, Byline Sponsor Finance
Daniel Bresnahan, Business Development
Byline Sponsor Finance