Pine Street Capital Partners
PE/Buy-Out · Albany (United States)
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About
Pine Street Capital Partners is a private equity firm specializing in equity investments in sponsored and unsponsored transactions, strategic acquisitions, growth capital, later stage, management and employee buyouts, shareholder dividends, leverage recapitalization subordinated debt, minority equity capital corporate growth initiatives and mezzanine investments in lower middle market companies from small and medium sized private companies and micro-cap public companies. The firm does not invest in the real estate, financial services, biotech, and oil and gas industries. It typically invests across a wide range of industries including manufacturing, business services, consumer products, healthcare, media and later stage information technology companies and real estate lending sectors. The firm prefers to invest in the United States with a focus on companies based in the Northeast and Middle Atlantic regions and along the east coast. It will consider transactions outside of these regions for transactions sponsored by equity groups with which the firm has a prior relationship, and for unsponsored transactions where the firm know the management team or are introduced to the opportunity through a direct relationship. It invests $3 million to $10 million per transaction either as sole investor or as part of a larger investor group. It typically invests between $0.5 million and $8 million in equity with a preferred mezzanine size and subordinate debt investment of $1 million to $10 million. It seeks to invest up to $2 million in equity alongside a debt investment. The firm seeks conjunction with other mezzanine lenders for larger transaction sizes. It invests in companies with EBITDA margins of 10 percent and above and EBITDA between $1 million to $10 million and with revenues between $10 million up to $100 million. The firm typically structures its investments as subordinated debt with warrants or without to purchase capital stock. The interest component is fixed (PIK interest when appropriate) and usually structured with a majority of the interest paid on a current basis with the remainder paid on a paid-in-kind (PIK) or accrual basis. The PIK component is payable at maturity and debt is structured to mature between three years and six years. It prefers to take controlling stake in its portfolio companies and also prefers to take a board seat as a director or an observer. It can also take a non control position. The firm seeks to consider equity co-investments on a case by case basis. The firm prefers to exit its investments within four to six years. Pine Street Capital Partners was formed in 2004 and is headquartered in Albany, New York with additional offices in Wellesley, Massachusetts and New York, New York.
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