Granite Creek Partners – Company Profile

Mezzanine financing company overview

Mezzanine firm logo:

Granite Creek Partners - mezzanine financing company logo

Headquarters location:

United States

Typical mezzanine financing range:

$3 to $10 million

Geographic focus:

United States

Industry focus:

Business services, Distribution, Manufacturing, Healthcare, Consumer Products. Investments in project financing, real estate, and businesses that re-lend money are prohibited.

Company profile

Granite Creek Partners is a Chicago-based investment firm founded in 2005 that provides equity and debt capital to public and private companies and innovative specialty finance for underserved industries. Granite Creek pursues situations where a flexible investment approach can deliver unique and highly customized solutions across an array of investment types. With a focus on investing in fundamentally sound U.S.-based middle market companies, Granite Creek looks to accelerate the building of its portfolio companies through global expansion, add on acquisitions and access to growth capital.

Granite Creek was founded in 2005 by Brian Boorstein, Peter Lehman and Mark Radzik after having worked together in various capacities and on multiple transactions since 1998. Since inception, the current Managing Partners have added two additional individuals to the General Partnership, James Clark, Granite Creek’s first employee and its existing Chinese operating partner, John He, to lead their affiliate office in Hangzhou, China. The team draws from a diverse set of experiences and possesses significant professional experience in principal investing with a track record of success across a broad portfolio of industry sectors. Collectively, the principals of Granite Creek Partners have overseen nearly 80 investments.

Since 2005, Granite Creek Partners has made investments in 20 buyouts, recapitalizations, and growth investments and currently manages an active portfolio of 11 manufacturing, distribution, business services, and health care-related companies.

Investment philosophy/criteria

Granite Creek makes structured mezzanine investments in the subordinated debt of US-based small and mid-sized enterprises. They look to partner with fundamentally sound companies that cannot fully access traditional commercial lending sources. They seek out situations where customized capital solutions are needed to support growth, change of control, restructuring, or recapitalization.

Targeted investments will generally possess the following characteristics:

  • Investment Size & Structure:
    • $3 to $10 million and larger through use of co-investment partners
    • Maturity between 3 to 5 years
  • Investment Types:
    • Mezzanine debt
    • Mezzanine debt with equity
    • Equity co-invest alongside mezzanine
  • Company Profile:
    • Annual revenues greater than $10 million
    • >$3 million normalized EBITDA
    • Proven history of profitability
  • Company Characteristics:
    • Defensible market positions
    • Structural cost advantage
    • Proven and committed management teams
    • Reputation for quality
  • Industries:
    • Business services
    • Distribution
    • Manufacturing
    • Healthcare
    • Consumer Products
  • Transaction Types:
    • Leveraged buyouts
    • Growth financings
    • Recapitalizations & Refinancings
    • Sponsored, Fundless Sponsored or Family/Management-Owned

Granite Creek is licensed by the Small Business Administration of the United States of America (“SBA”) as a Small Business Investment Company (“SBIC”). As an SBIC, GCP may obtain US Government capital to co-invest in US-based small and mid-sized enterprises. At the same time, SBIC Licensed Fund is imposed investment restrictions as follows:

  • Companies based outside of the United States
  • Original issue debt and debt with equity
  • Small Businesses: Net worth less than $18 million or average after-tax income less than $ 6 million over the last two years or industry code test
  • Investments in project financing, real estate, and businesses that re-lend money are prohibited

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