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SPP MEZZANINE
PARTNERS ANNOUNCES THE RECAPITALIZATION OF SIMONS BROADCASTING,
LP
SPP Mezzanine Partners is pleased to announce that it
has successfully exited its investment in Simons Broadcasting,
LP (“Simons Broadcasting”), an SPP Mezzanine
Funding, L.P. portfolio company. Simons Broadcasting owns
KTAQ-TV (“KTAQ”), a full-power commercial
television station that is broadcast on both digital and
analog signal to substantially all of the Dallas-Fort
Worth market, the sixth largest television market in the
U.S. SPP Mezzanine Partners led a $2.0 million investment
of senior debt capital in Simons Broadcasting in June
2004, used to refinance certain portions of KTAQ’s
debt and provide growth capital to the station. KTAQ was
recently recapitalized by Platinum Debt Group, an independent
investment vehicle of Platinum Equity.
“We greatly enjoyed working with the experienced,
entrepreneurial management team at Simons Broadcasting,”
said Phil McNeill, SPP Mezzanine Partners’ Chief
Investment Officer. “We are proud to have been part
of such a successful transaction that enabled the station
to continue its impressive growth while providing an attractive
return for our LPs. This transaction serves as a good
example of our flexibility both in terms of the capital
we provide and the industries we work across.”
SPP Mezzanine Partners, an affiliate of SPP Capital Partners,
LLC, is a privately-held investment management firm founded
in 2003. SPP Mezzanine Partners provides mezzanine capital,
including subordinated debt and private equity, for leveraged
buyouts and management buyouts, growth capital financing
(internal growth and acquisitions) and recapitalizations
and refinancings. The firm specializes in lower middle
market investment opportunities and works with equity
sponsors, fundless sponsors and directly with management
teams to create and build value.
SPP Capital Partners, LLC is a private investment bank
specializing in the private placement of senior debt,
mezzanine debt and equity capital.
Contact:
Phil McNeill
SPP Mezzanine Partners
11350 Random Hills Road
Suite 800
Fairfax, VA 22030
(703) 279-6403 |
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