Transaction provided infusion of capital and helped pay a shareholder dividend.
Levine Leichtman Capital Partners (“LLCP”), a private equity firm headquartered in Los Angeles, California, has recently announced a completed recapitalization for Lawn Doctor, Inc. (“Lawn Doctor”), a portfolio company of Levine Leichtman Capital Partners SBIC Fund.
The transaction provided ongoing working capital for Lawn Doctor and also helped pay a shareholder dividend.
“We are pleased to have completed this important divided recapitalization,” said Lauren Leichtman, CEO of Levine Leichtman Capital Partners.
Ms. Leichtman also stated, “The transaction increased Lawn Doctor’s senior credit facility to approximately twenty-two million dollars and among other things, provided a beneficial infusion of capital to help facilitate Lawn Doctor’s day-to-day operations.”
Recapitalization by private equity groups such as LLCP is a common practice. Investments by LLCP bring financial and operational experience to business partners, while at the same time, allows business owners to maintain meaningful equity stakes in their companies.
Since 1984, Levine Leichtman Capital Partners has provided entrepreneurs with long-term capital and financial expertise. LLCP makes investments into middle market companies utilizing its structured equity investments approach. Previous investments include Santa Cruz Nutritionals, CiCi’s Pizza, Hackney Ladish and Luminator Technology Group.
The Lawn Doctor recapitalization is one of many recent successful transactions LLCP has handled. The senior credit facility was provided by Madison Capital Funding LLC.