Thursday, December 01, 2011
Independent Bankers Capital Funds ("IBCF") is pleased to announce its investment in Berry Aviation. ("Berry") of San Marcos, TX. Founded in 1983, Berry is a full service aviation business that provides charter, freight, and line services. This investment supported a recapitalization of Berry as well as provided growth capital.
IBCF II provided $4.3 million in subordinated debt and preferred stock.
Monday, August 08, 2011
Independent Bankers Capital Fund II, L.P. announced today its investment in Dependable Auto Shippers ("DAS"). Based in Mesquite, Texas, DAS is the largest privately owned automobile transport company in the United States, regularly transporting more than 100,000 personally owned vehicles per year. DAS uses it fleet of more than 150 trucks and 90 owned and leased terminals to service two principal types of customers: families who are relocating within the United States and individuals who either buy or sell automobiles using the internet. These two business segments comprise approximately 80% of DAS' revenues. A key element to providing high quality service to these two business segments is DAS' proprietary information system that tracks their highly complex network that picks up and delivers more than 300 cars per day across the United States.
IBCF II lead the financing comprised of $5.3 million of secured notes (IBCF: $4.0 million) and $0.1 million of convertible preferred stock (IBCF: $0.07 million). The purpose of the financing was to refinance certain existing debt and to provide growth capital.
About IBCF
Independent Bankers Capital Funds are investment capital partnerships headquartered in Dallas, Texas. IBCF focuses on mezzanine lending and purchasing equity securities issued by established lower-middle-market companies, primarily in Texas. IBCF operates two Small Business Investment Companies licensed by the United States Small Business Administration. Originally established in 2000, IBCF's investors are Texas-based independent community banks and financial institutions.
Contact
Thomas B. Hoyt
1700 Pacific Avenue
Suite 2740
Dallas, TX 75201
Telephone: (214) 722-6202
Fax: (214) 722-6220
Wednesday, April 27, 2011
Independent Bankers Capital Funds ("IBCF") is pleased to announce its investment in Jardine Foods, Inc. ("Jardine's") of Buda, TX. Founded in 1979, Jardine's is a manufacturer of high-end salsas, dips and sauces sold in grocery markets and specialty stores across the United States. This investment supported a recapitalization of Jardine's as well as provided growth capital.
IBCF II provided $2.65 million in subordinated debt and preferred stock.
Thursday, March 31, 2011
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.
About IBCF
Independent Bankers Capital Funds are investment capital partnerships headquartered in Dallas, Texas. IBCF focuses on mezzanine lending and purchasing equity securities issued by established lower-middle-market companies, primarily in Texas. IBCF operates two Small Business Investment Companies licensed by the United States Small Business Administration. Originally established in 2000, IBCF's investors are Texas-based independent community banks and financial institutions.
Contact
Thomas B. Hoyt
1700 Pacific Avenue
Suite 2740
Dallas, TX 75201
Telephone: (214) 722-6202
Fax: (214) 722-6220
Monday, June 14, 2010
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.
Monday, January 4, 2010
DALLAS, Texas - 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.
Contact: Michael Metcalf
Senior Associate
Independent Bankers Capital Funds
(214) 722-6200
mmetcalf@ibcfund.com