Portfolio

 

Private Credit

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Business Services


  • CDE Services, Inc.

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    CDE provides end-to-end payment services specializing in technology enabled electronic benefits distribution ("EBT") as well as credit/debit ("CRDB") transaction processing for convenience and grocery store customers. Additionally, CDE provides POS device encryption, deployment, and activation services.

    • Status: Active
    • HQ Location: Georgia
    • Industry: Business Services
    • Fund: Junior Capital Fund III
    • Deal Team: Matt Harnett, Paul Oris, and Dominic Noel
    • Investment Date: 10/31/2023
  • Perimeter Insect Guard

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    Perimeter is the largest provider of insecticide treatment services for uniforms and garments, primarily used by the various branches of the U.S. Military

    • Status: Active
    • HQ Location: Mississippi
    • Industry: Business Services
    • Fund: Private Credit Fund III
    • Deal Team: Tyson Smith, Husnain Safdar, and Zachary Forsyth
    • Investment Date: 08/08/2023
  • Terra Staffing Group

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    Terra Staffing Group, and recently acquired ASG Staffing, Inc, are regional staffing service providers for low-wage, high turnover jobs in the industrial and administrarive space. The Companies operate as outsourced HR departments, providing clients with on-site management of staffed labor including onboarding, administration, disciplinary actions, training, safety, and regulation.

    • Status: Active
    • HQ Location: West
    • Industry: Business Services
    • Fund: Private Credit Fund III
    • Deal Team: Tyson Smith, Paul Oris, and Justin Uhlenbrock
    • Investment Date: 07/21/2023
  • Custom Computer Specialists

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    Founded in 1979, Custom is a leading provider of technology support solutions to school districts, healthcare facilities, local government agencies, and professional services firms throughout the Northeastern U.S.

    • Status: Active
    • HQ Location: New York
    • Industry: Business Services
    • Fund: Junior Capital Fund III
    • Deal Team: Tyson Smith, Jack Surma, and Dominic Noel
    • Investment Date: 02/07/2022
  • JD Palantine LLC

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    Founded in 2009, JDP is a technology-enabled provider of background check, employment screening and adjacent services to a diverse customer base spanning a variety of industries, including but not limited to healthcare, youth sports, education, and finance.

    • Status: Active
    • HQ Location: Pennsylvania
    • Industry: Business Services
    • Fund: Junior Capital Fund II
    • Deal Team: Stephen Gurgovits, Jr., Jack Surma, and Zac Forsyth
    • Investment Date: 08/31/2021
  • BP Business Solutions

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    Established in 1998 and based in Chalfont, PA, BP’s core business is to provide asset light managed waste and recycling services to multi-location customers. BP also provides outsourced janitorial, landscaping, fire protection and equipment re-rentals, among other services.

    • Status: Active
    • HQ Location: Pennsylvania
    • Industry: Business Services
    • Fund: Junior Capital Fund II
    • Deal Team: Matthew Harnett, Husnain Safdar, and Zac Forsyth
    • Investment Date: 06/30/2021
  • Cartridge Technologies

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    Cartridge Technologies, Inc. is a Managed Print Services (“MPS”) providing leased machines (printers, copiers, scanners, etc.) to the federal government and offers maintenance services through 5 year fixed contracts.

    • Status: Exited
    • HQ Location: Maryland
    • Industry: Business Services
    • Fund: Junior Capital Fund II
    • Deal Team: Tyson Smith and Jack Surma
    • Investment Date: 07/24/2020
  • Converged Security Solutions, LLC

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    Converged Security Solutions ("CSS") offers a comprehensive converged security managed services solution spanning cyber and physical security to allow the C-suite to better quantify, reduce, and manage security risk on an ongoing basis. CSS provides an end-to-end solution, where customers can benefit from assessment, remediation, and monitoring of the security of their IT and critical infrastructure as a total solution as needed.

    • Status: Active
    • HQ Location: Virginia
    • Industry: Business Services
    • Fund: Junior Capital Fund II
    • Deal Team: Stephen J. Gurgovits, Jr., Ian Frazier, and Zac Forsyth
    • Investment Date: 09/06/2018
  • TierI, Inc.

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    Tier1 is a leading technology services firm focused on the delivery of Enterprise Resource Planning (“ERP”) Consulting, Cloud Hosting, and Managed Services to mid-sized businesses. The Company offers a comprehensive suite of services related to Oracle’s financial applications, E-Business Suite (“EBS”) and Hyperion, as well as other ancillary software platforms.

    • Status: Exited
    • HQ Location: Pennsylvania
    • Industry: Business Services
    • Fund: Junior Capital Fund II
    • Deal Team: Matt Harnett and Jack Surma
    • Investment Date: 12/18/2017
  • Mail Communications Group

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    Mail Communications Group ("MCG") is a market-leading provider of outsourced communication services to a diverse and recurring base of over 3,700 customers. The Company’s integrated suite of omni-channel communications, mail presort services, and lettershop is a critical component of the communications between MCG’s customers and their consumers. MCG is the established, dominant provider of mail presort services in three of four served markets in the Midwest.

    • Status: Active
    • HQ Location: Iowa
    • Industry: Business Services
    • Fund: Junior Capital Fund II
    • Deal Team: Tyson Smith and Husnain Safdar
    • Investment Date: 08/16/2017
  • Winter Services LLC

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    Winter Services, LLC (“Winter Services”) is a provider of snow and ice management services (snow clearing, deicing, salt brokerage) to commercial customers in the Midwest and Great Lakes regions of the United States.

    • Status: Exited
    • HQ Location: Wisconsin
    • Industry: Business Services
    • Fund: Junior Capital Fund I
    • Deal Team: Tyson Smith and Jack Surma
    • Investment Date: 08/24/2015
  • The Shamrock Companies, Inc.

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    The Shamrock Companies, Inc. ("Shamrock") is a leading provider of integrated marketing, communications and project management solutions with headquarters in Westlake, Ohio, Shamrock, assembles the right mix of people, services and technology to help customers build and protect their brands, drive revenue, and create efficiency.

    • Status: Exited
    • HQ Location: Ohio
    • Industry: Business Services
    • Fund: Junior Capital Fund I
    • Deal Team: Stephen J. Gurgovits, Jr., Matt Harnett, and Tyson Smith
    • Investment Date: 02/28/2014
  • Environmental Service Laboratories, Inc.

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    Environmental Service Laboratories (“ESL”), provides its clientele with a comprehensive range of analytical testing, consulting, and field sampling services. ESL’s customers include natural gas drilling companies, industrial facilities, municipalities, engineering firms, local/state/federal government, and the general public. The Company also provides professional land surveying, engineering, and Geographic Information Systems (“GIS”) services in Pennsylvania’s residential and commercial markets.

    • Status: Exited
    • HQ Location: Pennsylvania
    • Industry: Business Services
    • Fund: Legacy Fund
    • Deal Team: Stephen J. Gurgovits, Jr., Matt Harnett, and Tyson Smith
    • Investment Date: 12/31/2012
  • Cadence Capital Management

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    Cadence Capital Management is a Boston based investment management firm specializing in actively managed domestic equities. The Company was founded in 1988 with $20 million of seed capital from Pacific Mutual Life Insurance Company. In 2005, the Company’s employees acquired their firm with a capital infusion from Rosemont Capital. Cadence Capital Management is now an independent, majority employee-owned investment management firm. Cadence has a tenured and experienced management team with a proven track record, as well as a customer services program that has helped the company grow to over $5 billion in assets under management.

    • Status: Exited
    • HQ Location: Massachusetts
    • Industry: Business Services
    • Fund: Legacy Fund
    • Deal Team: Stephen J. Gurgovits, Jr., Matt Harnett, and Tyson Smith
    • Investment Date: 12/01/2010
  • Paragon Asset Recovery Services, Inc.

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    Paragon Asset Recovery Services, Inc., based in Coraopolis, PA, is a specialty services firm with a focus on identification, billing and recovery of third party deductibles and subrogation on behalf of large property and casualty commercial insurance companies. Since 1994, the Company has been dedicated to partnering with its clients to improve their financial performance.

    • Status: Exited
    • HQ Location: Pennsylvania
    • Industry: Business Services
    • Fund: Legacy Fund
    • Deal Team: Stephen J. Gurgovits, Jr., Matt Harnett, and Tyson Smith
    • Investment Date: 05/01/2011
  • Remote DBA Experts

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    Remote DBA Experts, based in Pittsburgh, Pennsylvania, is a leading provider of high-quality, customized remote database administration services to client organizations throughout the United States. The Company’s database management services include database design and creation, configuration, security and connection management, proactive monitoring utilizing proprietary technology tools and backup recovery planning, testing and tuning. The Company also provides database problem determination and correction, space management security administration/maintenance, schema object creation/management and consultation support. Remote DBA Experts rebranded as Navisite after Tecum's exit.

    • Status: Exited
    • HQ Location: Pennsylvania
    • Industry: Business Services
    • Fund: Legacy Fund
    • Deal Team: Stephen J. Gurgovits, Jr., Matt Harnett, and Tyson Smith
    • Investment Date: 06/01/2010
  • Ashton Potter

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    Ashton Potter Security Printing is a Buffalo, New York based company focused on the high security printing market. The Company, which has best in class printing capabilities, has become one of the top suppliers to the United States Postal Service, producing over 10 billion postage stamps annually. Additional products include stamped envelopes and cards for the USPS, as well as tax revenue stamps for domestic and international governments. The Company has also moved into the brand identity protection market to help protect clients from counterfeit products.

    • Status: Exited
    • HQ Location: New York
    • Industry: Business Services
    • Fund: Legacy Fund
    • Deal Team: Stephen J. Gurgovits, Jr., Matt Harnett, and Tyson Smith
    • Investment Date: 04/01/2010
  • RealPoint

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    Realpoint, LLC offers ratings and original research on the Commercial Mortgage Backed Securities (CMBS) market. Through its experienced team of CMBS analysts, Realpoint provides in-depth analytical bond reports, deal summary reports, watchlists, original research reports and the ability to drill-down and stratify a portfolio in any way a client desires. Morningstar, Inc. acquired Realpoint in 2010.

    • Status: Exited
    • HQ Location: Pennsylvania
    • Industry: Business Services
    • Fund: Legacy Fund
    • Deal Team: Stephen J. Gurgovits, Jr., Matt Harnett, and Tyson Smith
    • Investment Date: 11/01/2007
  • AlturnaMats, Inc.

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    AlturnaMATS is the worlds largest manufacturer of Ground Protection Mats. Protect your turf & save thousands in ground restoration costs. AlturnaMATS, Inc. was founded in 1995 in Titusville, PA, by a heavy equipment mechanic seeking a better way to prevent ground damage from equipment during excavation and construction work. He developed plastic protection mats that proved to be more durable than the plywood alternative. In addition to protecting landscaping, the mats have a patented tread to provide traction for transport equipment. Checkers Industrial Products, LLC partnered with AlturnaMATS in 2015.

    • Status: Exited
    • HQ Location: Pennsylvania
    • Industry: Business Services
    • Fund: Legacy Fund
    • Deal Team: Stephen J. Gurgovits, Jr., Matt Harnett, and Tyson Smith
    • Investment Date: 06/01/2006

Case Studies

Burrell | Reagents

Burrell Scientific, LLC manufactures and distributes laboratory equipment and supplies. Reagents, LLC is located in Charlotte, NC and has been blending, packaging, and distributing custom laboratory solutions for over 40 years.

Uncle Charley's

Uncle Charley’s Sausage Company (“UCSC”) is a Western Pennsylvania based pork sausage producer with a strong market share in the Greater Pittsburgh Region.

Hometown Hospice

Hometown is a provider of hospice and home-care services to skilled nursing facilities, assisted living facilities, and residents in the greater Milwaukee area.​