FOR IMMEDIATE RELEASE
April 27, 2017
Byline Bank’s Sponsor Finance Group supports Salt Creek Capital and Ocean Avenue Capital Partners in their acquisition of Griplock Systems
Byline Bank’s Sponsor Finance Group, the cash flow lending division of Chicago-based Byline Bank, announced that it provided revolving and term credit facilities to finance Salt Creek Capital and Ocean Avenue Capital Partners’ investment in Griplock Systems (“Griplock”). Mezzanine debt for the acquisition was provided by Spell Capital Mezzanine Partners.
Griplock is a market leading designer and provider of proprietary cable suspension hardware and fastener systems used in architectural lighting, retail display and signage, industrial and high-bay lighting, rigging, art display and other various end markets.
“Griplock has an impressive history of engineering superior quality products which has transitioned the Company into the market leader in their core lighting markets,” says Dan Delgadillo, Senior Vice President for Byline Bank’s Sponsor Finance Group. “We’re thrilled to partner with teams at Salt Creek Capital, Ocean Avenue Capital Partners and Spell Capital Mezzanine Partners on this transaction.”
About Byline Sponsor Finance Group
Byline Bank’s Sponsor Finance Group provides senior secured cash flow loans to private equity-backed lower middle market companies throughout the United States. With offices in Chicago, IL and Charlotte, NC, Byline Bank’s Sponsor Finance Group 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
Byline Bank is a privately-held, Chicago based bank with over $3 billion in assets and over 50 branch locations. Byline Bank is a full service commercial bank providing retail and business banking, commercial mortgages, and an array of banking products and services to consumer and business customers.
About Salt Creek Capital
Salt Creek Capital is a San Francisco Bay Area based private equity firm partnering with talented operating executives to acquire profitable lower middle market businesses across the U.S. As operationally-focused investors, Salt Creek seeks to leverage its experience as entrepreneurs, CEOs and board members to support management teams in disciplined and focused execution and to identify growth and value creating opportunities. For more information, visit www.SaltCreekCap.com.
About Ocean Avenue Capital Partners
Ocean Avenue Capital Partners, L.P. is an independent private equity firm based in Santa Monica, California. The firm partners with both fund sponsors and independent sponsors to make equity investments in small businesses (typically under $10mm of EBITDA) and/or complex situations. For more information, visit www.OceanAvenueCapital.com.
About Spell Capital Mezzanine Partners
Spell Capital Mezzanine Partners is a Minneapolis, MN based mezzanine fund that provides mezzanine financing to lower middle-market companies throughout the United States, targeting businesses with EBITDA of $2.0 million and above. The fund invests in a variety of industries in companies with high-quality management, adequate revenue diversification, stable and growing end-market demand, defensible market positions and sustainable free cash flow. For more information, visit www.SpellCapital.com.
For more information please contact:
Dan Delgadillo, SVP
Sponsor Finance Group, Byline Bank
Jim Kuncl, SVP
Group Head, Sponsor Finance Group, Byline Bank