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Maranon Capital Funds B&H Education, Inc. and Tidi Products, LLC
Maranon Capital, L.P. announced today that it has closed two middle market financings with investments in B&H Education, Inc. (“B&H”) and Tidi Products, LLC (“Tidi”). Both investments were made in the second quarter of 2010.
Maranon was the Documentation Agent for a $64.5 million senior credit facility to support the acquisition of B&H by ABRY Partners. B&H operates over 40 cosmetolegy schools throughout the Western United States under the Marinello Schools of Beauty name. It was Maranon’s second transaction with ABRY Partners.
In the Tidi transaction, Maranon Capital participated with other lenders to provide a $93.1 million senior credit facility to support Tidi’s acquisition of Timely Medical Innovations. The facility also provided a dividend to Tidi’s majority owner, Beecken, Petty, O'Keefe & Company.
"With the B&H and Tidi transactions Maranon has now closed three new senior or senior and mezzanine transactions in 2010 and nine since we began investing in early 2008," remarked Tom Gregory, Co-Founder and Managing Director of Maranon Capital. "We continue to build our reputation both as a source of flexible financing solutions for top-tier middle market private equity firms and as an excellent partner in club transactions with other middle market focused senior lenders."
About Maranon Capital
Maranon Capital, L.P. provides senior financing, mezzanine debt and equity co-investments for private equity-backed and non-sponsored middle market transactions. Maranon has the flexibility to structure a one-stop financing solution or provide stand-alone senior or mezzanine debt. The firm does not take control equity positions, but will consider a minority equity role. Maranon is currently managing over $550 million of committed capital and has offices in Chicago, Illinois and Birmingham, Michigan. For more information about Maranon Capital please visit www.maranoncapital.com.
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