Strength Capital Completes Refinance of Propane Services
Strength Capital Partners L.L.C., a Birmingham, MI based private-equity firm, has closed on the refinancing of its existing portfolio company, Propane Services LLC. The refinancing was supported by the Company’s current senior lender with proceeds used to retireall of the Company’s existing subordinated debt. The subordinated debt was provided by Cincinnati-based Northcreek Mezzanine in 2012.
Propane Services is located in Romulus, MI is leading distributor of propane to industrial and commercial customers. In addition, the Company rents temporary heating equipment of various sizes, hoses, and fans to the construction market. The Company has proudly served Southeastern Michigan with affordable prices and exception customer service for over 50 years.