News Releases & Press

Independent Bankers Capital Fund, L.P. (www.ibcfund.com) announced today the sale of its investment in Aerospace Distributors, Inc., the parent company of Graco Supply Company (www.gracosupply.com) to a new company formed by Cotton Creek Capital (Dallas, TX), Stony Point Group (Asheville, NC) and members of Graco’s management team.

Headquartered in Ft. Worth, Texas, Graco is an integrated provider of value added distribution, chemical management, and vendor managed inventory services, primarily to the aerospace and aviation industries. Beginning in 1959, Graco has served the commercial, military, and general aviation markets.

During the term of IBCF’s investment, Graco substantially expanded its operations to five locations (Ft. Worth, TX; Wichita, KS; Tulsa, OK; Greensboro, NC; and Ball Ground, GA), significantly broadened its product offerings, and became one of the premier providers of chemical management services for both original equipment manufacturers and maintenance repair and overhaul operators.

Independent Bankers Capital Funds (“IBCF”) is pleased to announce its investment in The Finial Company, Inc. (“Finial”) of Dallas, Texas. Founded in 1996, Finial designs, manufactures and finishes custom drapery hardware. This investment supported Finial’s acquisition of the assets of Paris Texas Hardware, another Dallas-based drapery hardware manufacturer.

IBCF provided $4.1 million in subordinated debt and preferred stock financing as part of an overall $7 million acquisition financing and recapitalization of Finial, a portfolio company of Ancor Capital Partners.

Independent Bankers Capital Funds has announced Independent Bankers Capital Fund II, L.P., a new fund investing mezzanine capital in profitable, lower-middle-market manufacturing, distribution and service companies across Texas. The Fund raised $21 million from Texas independent banks allowing it to receive commitments from the Small Business Administration (“SBA”) for up to an additional $42 million.

The first fund, Independent Bankers Capital Fund, L.P., was the first Small Business Investment Company (“SBIC”) specifically designed to be owned by independent financial institutions. Conceived in 1998 and licensed by the SBA in 2000, the fund had $69 million that was invested into 12 companies.

IBCF’s funds are currently managed by Barry Conrad, Thomas Hoyt, and TIB – The Independent BankersBank.