Pittsburgh, Pennsylvania - F.N.B. Capital Partners, L.P. ("FNBCP") has partnered with The S Group Companies (“S Group”) and Management in the recapitalization of Winter Services. Winter Services is a full service snow management company based in Milwaukee, Wisconsin. FNBCP provided mezzanine financing and equity capital to facilitate the recapitalization with Winter Services’ President, Jay Felton, re-investing back into the transaction as well.
“Under Jay Felton’s leadership, Winter Services has significantly grown its account base in recent years. We were overly impressed with the Company’s internal processes to efficiently handle the complex nature of snow management across multiple geographies.” noted Stephen Gurgovits, Jr., Managing Partner of FNBCP.
Other parties involved in the transaction were MB Financial providing a revolving line of credit and Cohen & Grigsby, P.C. serving as legal advisor to FNBCP.