Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that Champion Manufacturing, Inc. (“Champion”), a portfolio company of Levine Leichtman Capital Partners SBIC Fund, L.P., successfully completed a recapitalization whereby Champion (www.championchair.com) increased its senior credit facility to $24.0 million. Proceeds of the transaction were used to pay a shareholder dividend and provide for on-going working capital needs of Champion. The senior credit facility was provided by Madison Capital Funding LLC.
Based in Elkhart, Indiana, Champion is a leading designer and manufacturer of seating products for the healthcare market. The Company’s product portfolio primarily consists of highly engineered medical recliners sold to outpatient, post-acute medical facilities for treatments such as hemodialysis, where patient comfort is of critical importance.