SPP Capital Partners LLC

  • Overview

It came from the 1980s

From its inception in 1989, originally intended to provide private capital deals, SPP Capital Partners has emerged as a solid name serving the middle-market scene, with about 370 financings in total worth $16 billion.  The team of analysts and associates behind SPP Capital Partners comes from commercial and investment banking backgrounds, and the firm's top management tier has a number of ties with large financial institutions and portfolio holders.  In addition to finding financing solutions for its clients, the firm works on a number of other financing issues out of its New York headquarters, including negotiating creditor issues, payment flexibility and covenant structure.  Under the leadership of  Robin Ellis Busch who serves as managing partner for the firm (and has worked as a co-head of distribution since 1993), SPP's senior management collectively boasts more than a century of experience in the private capital markets.

Breaking it down

By and large, SPP Capital Partners works in three major areas: mezzanine debt, private equity and senior debt.  In its senior debt department, SPP Capital helps structure senior debt for its clients by using asset-based credit facilities, cash flow-based credit facilities, lease-backed notes and structured or securitized debt facilities (among others).  Within the department, the firm has worked on a number of senior bank and senior institutional debt transactions, such as deals for Simons Broadcasting, guitar manufacturer Gibson and environmental services firm SWS, transactions ranging from $10 million to $225 million in value.

Notably, SPP Capital advised on a $576-million transaction for carpet manufacturer Beaulieu of America, a $215-million deal for catalog retailer Cabela's, a $200-million transaction for packaging company DS Smith plc, a $155-million deal for the Detroit Lions football team, a $169.5-million deal for Wabash Valley Power and a $150-million transaction for guitar manufacturer Gibson.  Within its private equity unit, the firm works on coordinating private equity for clients to help them grow, facilitating a recapitalization to give them liquidity or assisting them in financing an acquisition or buyout.  The department makes sure it takes a number of factors under consideration, including corporate culture and future goals.  Keeping this in mind, SPP helps its clients place various kind of private equity capital: redeemable preferred stock, convertible preferred stock, participating preferred stock, private investment in public equity (PIPE) and common stock.

Tickets to the mezzanine

SPP Capital's private mezzanine fund, SPP Mezzanine Partners, LLC, is an affiliate of the firm.  The fund supplies mezzanine capital for a variety of purposes: refinancing, growth capital, acquisitions, leveraged recapitalizations, leveraged buyouts and management buyouts.  In addition, the fund seeks out financing deals for established companies.  The fund also works closely with SPP Capital itself to offer financing in the form of senior and mezzanine capital.  Through SPP Mezzanine Partners, the firm has worked on a number of investments, including B&M, Angelle, SelectQuote, JetDirect Aviation and SafetySystemsHawaii.

It's all strategy

In addition to its established presence in the banking industry, SPP Capital also boasts a number of strategic partners with financial institutions.  These companies, some are also investors in the firm, have chosen SPP Capital as their sole form of access to the private capital markets.  The partners include Comerica, HSBC, U.S. Bank, Regions, BB&T Capital Markets, Sovereign Bank, CoBank, National Bank Financial, NCB, DZ Bank and Brown Brothers Harriman.



SPP Capital Partners LLC


330 Madison Avenue
28th Floor
New York, NY 10017
Phone: (212) 455 - 4500
Fax: (212) 455 - 4545
www.sppcapital.com

STATS


  • Employer Type: Private
  • CFO: Amy S. Lazarus