Byline Sponsor Finance (“BSF”), a division of Byline Bank, announced that it has provided financing to support SPATCO Energy Solutions (“SPATCO” or “Company”), a Kian Capital (“Kian”) portfolio company, in SPATCO’s acquisition of MSCS Ltd., a Dallas-based petroleum services company providing construction, installation and maintenance services. BSF was represented by Moore & Van Allen, PLLC.
Headquartered in Charlotte, North Carolina, with branches across the Southeast, SPATCO is a supplier, installer and maintenance provider of innovative turnkey solutions and equipment for fueling stations and EV-charging infrastructure. SPATCO equipment is used to store, pump, mix and meter petroleum and industrial liquids. The Company recently expanded into installing electric vehicle charging stations. The acquisition of MSCS expands the Company’s footprint into Texas.
“We are excited to be partnering again with Kian in support of SPATCO’s acquisition of MSCS. Kian has built a market leader in SPATCO and the acquisition of MSCS will further broaden the Company’s service capabilities as the Company continues to expand throughout the Southeast,” said Wes Oakford, Vice President of Byline Sponsor Finance.
Acting as Agent, Byline Sponsor Finance provided financing to support the transaction alongside First Merchants Bank, Enterprise Bank & Trust, and Old National Bank.
About Byline Sponsor Finance
Byline Sponsor Finance, with offices in Chicago and Charlotte, North Carolina, provides senior secured cash flow loans to private equity-backed lower middle market companies throughout the United States. BSF focuses on companies that generate EBITDA between $2 million and $10 million with products that support the acquisition, recapitalization and growth investment efforts of private equity firms operating in the lower middle market. For more information, visit www.bylinebank.com/sponsor-finance.
About Kian Capital
Kian Capital, an investment firm with over $825 million of capital under management, provides transformative capital solutions to established lower middle-market companies, often serving as the first institutional capital provider to closely held businesses. Kian Capital has the flexibility to participate in all forms of junior capital, including common stock, preferred equity and subordinated debt. Investments typically incorporate both equity and subordinated debt and Kian Capital can act in either a control or non-control capacity. Kian Capital has offices in Atlanta, GA, and Charlotte, NC. For more information, please visit www.kiancapital.com.
For more information, please contact:
Jim Kuncl, Managing Director, Group Head
Byline Sponsor Finance
(312) 660-5751
Wes Oakford, Vice President
Byline Sponsor Finance
(203) 858-2403
