December 22, 2023 – New Canaan Funding Mezzanine VII SBIC, LP (“NCF VII SBIC”) provided financing to support a dividend recapitalization by Labor Law Center (“LLC” or the “Company”) and Kian Capital Partners, LLC (“Kian”). NCF provided debt and equity financing as part of this dividend recapitalization.
LLC, headquartered in Santa Ana, California, is a leading e-commerce company that designs, markets, and sells state and federal labor law compliance posters that businesses are required to post in visible areas for their employees. The Company, founded in 1999, serves a diverse customer base that ranges from small businesses requiring one to two posters at a time to large multi-site corporate clients that purchase hundreds of posters. The business generates re-occurring revenue due to ever-changing laws and regulations, and recurring revenue due to its subscription model (Compliance Protection Plan, or “CPP”). LLC’s federal, state, and OSHA labor law posters are specifically designed to meet business needs and compliance requirements.
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 TPG represents NCF VII SBIC’s fourteenth investment in the fund. This financing represents the third investment with Kian in NCF VII SBIC.
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 16 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/.
Contact at New Canaan Funding:
Brad Ament
bament@newcanaanfunding.com 630-690-7768