Maranon Capital, L.P. announced today that it provided one-stop financing including a senior revolving credit facility and term loan as well as mezzanine debt and minority equity to support the new partnership of Neptune-Benson, Inc. and Audax Private Equity. Neptune-Benson’s President, Barry Gertz, will remain a large investor in the company.

“We are pleased to partner with Audax and the Neptune-Benson team to support their growth plans for this industry-leading firm” commented Demian Kircher, the Managing Director who led the investment for Maranon.

Mark Cordes, a Principal with Audax, worked with Maranon to structure the financing for the transaction. Cordes said of Maranon’s one-stop approach, “Working directly with the individuals empowered to make credit decisions was great. In addition, we wanted a partner with the flexibility to provide additional capital as Neptune-Benson grows.”

Ian Larkin, Co-Founder and Managing Director of Maranon Capital remarked, “We are very pleased to be partnering with Audax Private Equity in their latest investment. This financing establishes another relationship for Maranon Capital with a top-tier private equity sponsor.”

The transaction closed on July 18, 2011. Maranon Capital’s underwriting team also included Rommel Garcia, a Vice President with the firm, and Associates Mike Vieth and Matt Graves. Proskauer Rose LLP provided legal counsel for Maranon.

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 to provide stand-alone senior or mezzanine debt. The firm does not take control equity positions, but will consider a minority equity role in conjunction with a financing relationship. Maranon is currently managing over $550 million of committed capital. The firm is headquartered in Chicago with additional offices in Birmingham, Michigan and South Bend, Indiana. For more information about Maranon Capital please visit www.maranoncapital.com.

About Audax Group

Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax manages in excess of $4.8 billion of equity, mezzanine debt, and senior loan capital. For more information visit the Audax Group website www.audaxgroup.com.

About Neptune-Benson

Since 1956, Neptune-Benson has filtered more recreational water than any other company in the world. The company, headquartered in Coventry, Rhode Island, designs and manufactures environmentally friendly pool filtration systems and recirculation components for the commercial aquatics industry. As a result of longstanding relationships with leading aquatic design firms, over 7,000 of the company’s filters can be found in commercial and municipal water recreation facilities, resorts, zoos and aquariums across 50 states and 40 countries. More information about Neptune-Benson is available at www.neptunebenson.com.

Contacts

Maranon Capital, L.P.
Demian Kircher
Managing Director
(312) 646-1203
dk@maranoncapital.com

Greg Long
Managing Director
(312) 646-1204
gml@maranoncapital.com

Richard Jander
Managing Director
(248) 220-1804
rtj@maranoncapital.com