Pittsburgh, Pennsylvania – F.N.B. Capital Partners, L.P. (“FNBCP”), is pleased to announce the closing of the third investment in its new SBIC fund, Bolts & Nuts Corp. (“B&N”). FNBCP’s mezzanine and equity investment supported Nebraska Heavy Industries (“NHI”) and their acquisition of B&N. FNBCP is a $175 million fund, licensed as a Small Business Investment Company (“SBIC”) and managed by Tecum Capital Management, Inc.
“We are extremely excited about entering into a partnership with NHI and the entire B&N team,” noted Stephen Gurgovits, Jr., Managing Partner at FNBCP. “With locations in Chicago and the Southeast, B&N is one of the leading fastener suppliers, offering an extensive selection of products, technical support, and personalized service. We believe that NHI’s strong operational expertise will only further complement B&N’s customer centric business model.” “Our other valued partners on this transaction were Cole Taylor as the senior lender and Reed Smith and McGuire Woods as legal counsel,” added Matthew Harnett, Partner at FNBCP.
Founded in 1979 and based in Chattanooga, TN, B&N is a leading full-service distributor of commercial and construction bolts and fasteners. The Company has experienced teams in Chattanooga, TN, Macon, GA, and Chicago, IL, all serving a diverse national customer base in over 40 states.
NHI is an investment and management firm of operating professionals that seeks to purchase controlling interests in undervalued situations. Through operating and structuring know-how, they aim to generate greater shareholder value by re-structuring and re-aligning operating entities in order to achieve maximum operating efficiencies and profitability for long-term value creation.
About F.N.B. Capital Partners, L.P.
F.N.B. Capital Partners, L.P. is a pooled fund of committed capital licensed by the Small Business Administration (“SBA”) as an SBIC. FNBCP, headquartered in Pittsburgh, Pennsylvania, invests $3 million to $10 million per transaction. FNBCP 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.
About Tecum Capital Management, Inc.
Tecum Capital Management, Inc. (“Tecum”) is a private investment firm and management company for F.N.B. Capital Partners, L.P. Tecum, based in Pittsburgh, Pennsylvania, oversees a pool of committed capital focused on mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium sized commercial enterprises. The company is focused on providing financing for recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital needs.