SPP Mezzanine Partners is pleased to announce the closing of a mezzanine investment in support of KLH Capital’s acquisition of Blake & Pendleton Holdings, LLC (“Blake & Pendleton” or the “Company”). Blake & Pendleton represents SPP Mezzanine’s third investment out of the firm’s second mezzanine fund. While the financial terms were not disclosed, SPP Mezzanine Partners provided a combination of senior and junior subordinated notes as well as an equity co-investment to help execute the transaction. 

Headquartered in Macon, Georgia, Blake and Pendleton is a full service provider of equipment and equipment installation, maintenance, and repair services for (i) compressed air and gas systems, (ii) pumping equipment, (iii) heat transfer equipment, and (iv) vacuum systems used in industrial manufacturing facilities. With sales offices and services centers located across Georgia and strategically situated in Florida, Alabama, Mississippi, and Tennessee, the Company is the largest distributor of compressed air equipment for many of the leading global manufacturers, including Sullair Corporation, a large global manufacturer of air compressors, within its territory. The Company distinguishes itself on superior servicing standards and access to leading market brands.

 “We are pleased to work with KLH Capital on this investment,” said Phil McNeill, SPP Mezzanine Partners’ Chief Investment Officer. “As a market leader in the region with a well-diversified customer base and an outstanding reputation for quality service, we believe Blake & Pendleton is well positioned to continue its impressive growth trajectory.” Allan King, Blake & Pendleton’s President and CEO, added, “Blake & Pendleton is very excited to partner with SPP Mezzanine Partners and KLH Capital and we look forward to a very productive and profitable relationship.”

Financial terms of the transaction were not disclosed. Southern Commerce Bank provided senior debt financing.

About SPP Mezzanine Partners

SPP Mezzanine Partners is a privately-held investment management firm founded in 2003 with approximately $80 million in assets under management. 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, other mezzanine investors, fundless sponsors and directly with management teams to create and build value.  For more information on SPP Mezzanine Partners, please visit www.sppmezzanine.com.

SPP Mezzanine Partners is an affiliate of SPP Capital Partners, LLC, a private investment bank specializing in the private placement of senior debt, mezzanine debt and equity capital.