10/12/2016

Tecum Capital Provides Investment to Create Clio Holdings

Tecum Capital Invests in Clio Holdings

Pittsburgh, Pennsylvania - Tecum Capital Partners, LLC ("Tecum Capital") has partnered with O2 Investment Partners, LLC ("O2") and Oakland Standard Co., LLC ("Oakland Standard") in the formation of Clio Holdings, LLC ("Clio") to serve as a consolidator of local and regional countertop supply and fabrication businesses.  Tecum Capital provided mezzanine debt and an equity co-investment to support the transaction.
 
Clio was formed to partner leading regional countertop suppliers and fabricators together, providing the capital and operational expertise to upgrade, differentiate and professionalize this highly fragmented industry.  Clio has successfully completed two acquisitions to date (Granite Source and Princess Marble Company) and is actively seeking new opportunities in major metro areas across the United States.
Stephen Gurgovits, Managing Partner of Tecum Capital, commented, "Partnering with Oakland Standard and O2 on this platform was a significant part of our investment thesis for this transaction.  Their collective track record of executing buy-and-build growth strategies in the building products and other industries speaks for itself.  We look forward to adding value to this partnership and supporting future add-on acquisitions to grow the platform."

Clio was Tecum Capital’s 25th deal.  Tecum was formerly known as F.N.B. Capital Partners prior to changing its name in September 2016, and raised a $200 million fund in mid-2013 that is now three-fourths invested.  Tecum is currently raising a second fund which is estimated to be of similar size.
 
About Tecum Capital Partners
Tecum Capital Partners is a pooled fund of committed capital licensed by the Small Business Administration ("SBA") as an SBIC. Originally called F.N.B. Capital Partners, Tecum is headquartered in Pittsburgh, Pennsylvania and invests $3 million to $15 million per transaction.  Tecum specializes in providing mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium size commercial enterprises for the purposes of recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital.  For more information, please visit www.tecum.com or download our Tecum Fact Sheet.

About O2 Investment Partners
www.o2investment.com
O2 Investment Partners is a Midwestern based private equity firm that seeks to acquire a majority interest in lower middle market manufacturing, niche distribution, and select service and technology businesses. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value.
 
About Oakland Standard Co. 
www.oaklandstandard.com
Dan Bickersteth and Bryan Tolles founded Oakland Standard to focus on investment opportunities in lower middle market companies that want more than just capital. Oakland Standard targets situations where an operational approach and strategic support create value by building strong companies over a long-term horizon. Oakland Standard's core focus is on industrial businesses with less than $10 million of cash flow that are often overlooked or underappreciated by larger investors and where a hands-on approach can lead to meaningful change.