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Quarton Partners advises Sargent Quality Tools in a recapitalization with Advantage Capital Partners and Harvest Capital Credit.

Transaction

Sargent Quality Tools, a portfolio company of Buckingham Capital Partners, completed the refinancing of its senior and junior credit facilities. The proceeds from the refinancing were used to refinance the Company’s existing debt and fund Sargent’s new product development and marketing efforts. The senior secured credit facility was provided by Advantage Capital Partners and the junior capital was funded by Harvest Capital Credit.

Company

Sargent Quality Tools is a niche provider of specialty hand tools serving the North American market. The Company’s product offering consists of professional-grade hand tools for securing system components on cross-linked polyethylene plastic pipe in the plumbing industry, prepping and terminating cable used in the cable TV industry and the crimping of wire utilized in electrical, electronic and telecommunication applications. The Company’s products are sold to original equipment manufacturers and to wholesale distributors. Sargent is headquartered in Branford, Connecticut.

Buyer / Investor

Advantage Capital Partners provides equity and debt financing to established and emerging companies located in communities underserved by conventional sources of capital. Since 1992, the firm has invested more than $1.9 billion in companies from a diverse array of industry sectors, including manufacturing, technology and business services, and has offices in New Orleans, St. Louis, New York, Austin and other locations. Harvest Capital Credit Corporation (NASDAQ:HCAP) provides customized financing solutions to privately held small and mid-sized companies in the U.S., generally targeting companies with annual revenues of less than $100 million and annual EBITDA of less than $15 million. The company’s investment objective is to generate both current income and capital appreciation primarily by making direct investments in the form of subordinated debt, senior debt and, to a lesser extent, minority equity investments.

Contact

profile

Kurt L. Haras

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