Boathouse Capital Invests in its First Four Deals
October 12, 2010
Boathouse Capital, a new middle market mezzanine investment fund located in suburban Philadelphia, is pleased to announce the funding of its first four portfolio companies.
Based in West Palm Beach, FL, PTG Enterprises provides taxi, limousine, and para-transit services in the greater Palm Beach, Clearwater, and Jacksonville areas of Florida. The company has the leading market share position in all of its markets and enjoys numerous exclusive vendor contracts with area airports, hotels, and businesses.
Boathouse invested mezzanine debt in PTG Enterprises to acquire the assets of Yellow Cab Service Corporation of Florida and its affiliates and subsidiaries.
Based in Salt Lake City, UT, Platinum Protection sells, installs, and services residential security alarm systems. The company’s sales representatives and installation technicians follow a highly successful door-to-door sales strategy during the summer months and provide superior post-sales customer service. Platinum is currently the third largest summer sales company in the industry.
Boathouse invested debt in Platinum to help fund the business’ growth plans.
Based in Glen Cove, NY, Pleatco is a leading manufacturer of water filtration products used in the pool and spa industry. Pleatco’s primary products are filter cartridges and grids used for diatomaceous earth filtration. Pleatco is the leader in these markets and is known for quality and innovation. The company has an outstanding reputation among consumers and retailers thanks to a proprietary design that maximizes water flow and minimizes energy consumption.
Boathouse invested mezzanine debt to recapitalize Pleatco’s balance sheet and to fund future growth.
Service Provider to the Restaurant and Foodservice Industry
Finally, Boathouse invested in a service provider to the restaurant and the foodservice industries.
Boathouse supported Audax Group’s acquisition of the company by investing an undisclosed amount of mezzanine debt and equity to facilitate the transacation.