SPP Mezzanine Partners is pleased to announce the closing of its latest investment in support of the recapitalization of eServices, Inc. (www.eservices.cc) by AP Capital Partners and company management. eServices represents SPP Mezzanine’s fourth investment out of the firm’s second mezzanine fund. While the financial terms were not disclosed, SPP Mezzanine Partners joined a syndicate of mezzanine providers in providing senior subordinated debt to help execute the recapitalization and growth financing transaction. 

Headquartered outside of Richmond, Virginia, eServices is a leading energy management company servicing the natural gas needs of marketers, utilities, small and mid-sized commercial/industrial firms, and producers in the Southeast and mid-Atlantic regions of the United States. As a natural gas management firm, the Company provides a variety of aggregation, logistics, and financial hedging services to participants in the natural gas markets attached to the Dominion Transmission and Columbia Transmission pipelines. Management’s unique blend of procurement and trading expertise and financial management experience enables eServices to capitalize on a variety of inefficiencies that exist in the physical transportation, storage, and distribution of natural gas. Major clients include MeadWestvaco and Virginia Power Energy Marketing. 

“We are excited to work with the eServices management team, AP Capital Partners, and our mezzanine partners on this investment,” said Phil McNeill, SPP Mezzanine Partners’ Chief Investment Officer. “As a leader in the market, we believe eServices is poised to continue its impressive growth trajectory as it capitalize on the trends influencing the natural gas market and the broader energy sector.” 

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.

Contact:
Phil McNeill
Chief Investment Officer
(703) 279-6403

Javier Aguirre
Vice President
(703) 279-6408

SPP Mezzanine Partners
11350 Random Hills Road
Suite 800
Fairfax, VA 22030