January 31, 2023 – New Canaan Funding Mezzanine VII SBIC, LP (“NCF VII SBIC”) provided financing to support the add-on acquisition of Petro Supply by SPATCO Energy Solutions (“SPATCO” or the “Company”) and Kian Capital Partners, LLC (“Kian”). NCF provided debt and equity financing as part of this acquisition.
SPATCO, headquartered in Charlotte, North Carolina, is a market-leading provider of mission critical services to maintain, test, inspect, certify, and install fueling station infrastructure, with an emerging electric vehicle opportunity. SPATCO serves a diversified customer base of convenience stores, oil jobbers and producers, petroleum plants, commercial fleet and military fueling facilities, municipalities, marinas, and airports.
New Canaan Funding (“NCF”), with offices in Naples, Florida, New Canaan, Connecticut and Wheaton, Illinois, is a mezzanine firm focused on the middle market private sponsor community. Since its beginnings in 1995, NCF has targeted acquisitions, recapitalizations and growth financings in conjunction with its private equity clients. NCF is currently investing out of its seventh fund. The investment in SPATCO represents NCF VII SBIC’s tenth investment in the fund. This financing represents the first investment with Kian.
Kian Capital Partners forges partnerships to ignite growth and build enduring value with a goal to provide flexible financial resources and additional operational support to scale lower-middle-market businesses, realize aspirations and deliver long-term investment returns through genuine partnership. Kian is a private investment firm with $825 million of capital under management and 14 current investments and its team of seasoned investors has over 100 years of collective experience providing transformational capital solutions and board-level strategic and operational guidance to founder/owner operated businesses.
Contact and additional information for Kain Capital Partners, LLC can be found at https://www.kiancapital.com/.
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