June 25, 2009
Hirschfeld Holding is the financial arm of Hirschfeld Industries and it has announced that it has received junior capital with LBC Credit Partners leading the funding and private equity firm. Insight Equity also participated in the funding. Hirschfeld Industries is one of the largest fabricators of steel components in North America and is based in San Angelo, Texas.
Proceeds from the funding will go to support growth initiatives and to provide equity dividends to its equity holders. Hirschfeld fabricates over 100,000 tons of steel each year and serves a large variety of markets, including transportation infrastructure, industrial development, and power generation. Hirschfeld has over 11 facilities across the United States and serves both public and private enterprises.
LBC Credit Partners is a middle market lending fund which provides secured loans and mezzanine debt for companies, as well as providing equity. LBC’s EBITDA is over $10 million and LBC Credit Partners also has over $1 billion of committed capital under its management. LBC Credit Partners has offices in both Philadelphia and Chicago and invests throughout North America.
Insight Equity is a private equity firm that invests in controlled private equity in strategic middle markets. Insight Equity invests in companies that have challenging problems and is based in Dallas, Texas.
For more information about Hirschfeld, click here.