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Guardian Capital Partners Acquires R&D Circuits - cbl
Posted July 14, 2011
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Scott D. Evans
By Brian Wolak
WAYNE, Pa. -- Patriot Capital announced the acquisition of R&D Circuits, Inc. alongside Guardian Capital Partners. Patriot Capital provided subordinated debt and equity financing to support the acquisition.
Headquartered in South Plainfield, N.J., R&D Circuits designs and manufactures advanced printed circuit boards which are used to test integrated circuits being used in computer, server, and smartphone markets.
Led by managing partners Charles McCusker, and Chris Royston, Patriot Capital provides growth capital for middle-market companies looking to finance business expansions, acquisitions, management buyouts, or balance sheet recapitalizations. The firm's Patriot Capital II and predecessor funds, Allegiance Capital and Patriot Capital I, have more than $270 million under management.
Based in Baltimore, Patriot Capital typically makes subordinated debt and preferred equity investments in deals that range between $15 and $100 million in enterprise value. Patriot Capital will make business expansion investments between $3 and $15 million.
Guardian Capital Partners is a private equity firm based in suburban Philadelphia that makes control investments in lower middle market manufacturing, consumer products and service companies. GCP partners with management teams to provide equity capital to lead leveraged buyouts, recapitalizations and divestitures of family-owned businesses and non-core divisions of larger corporations.
Guardian Capital is led by managing partners Scott Evans, Peter Haabestad, and Hugh Kenworthy III.
Bios:
Thomas O. Holland, Jr.
Managing Partner
Tom Holland was one of the founders of Allegiance Capital, one of the predecessor funds to Patriot Capital II. Mr. Holland has 20 years of experience in venture capital, commercial and investment banking. Prior to co-founding Allegiance Capital, he spent 13 years in positions of increasing responsibility with Bank of America Corporation (and its predecessor banks) providing senior and subordinated debt to middle-market companies. During 1998 and 1999, Mr. Holland managed the mid-Atlantic activities of Bank of America SBIC Corporation, where he focused on mezzanine financing. Tom is currently active on the boards for various civic organizations and private companies. He holds a Bachelor of Arts degree in Economics from the University of Florida.
Charles P. McCusker
Managing Partner
Charles McCusker was one of the Founders of Patriot Capital I, one of the predecessor funds to Patriot Capital II and was a general partner of the ServiceMaster Venture Fund, a highly successful portfolio of focused private equity investments in consumer services, for-profit education, technology and application software and business e-commerce industries. Mr. McCusker also founded and held several operating executive positions, including President and Chief Operating Officer, of a high growth joint venture between The ServiceMaster Company (SVM) and Kleiner Perkins. Mr. McCusker currently serves on the Board of Directors of Dedicated Transport, Terminal Transportation, ExpertJMS and PRI Group and has served on the boards of Prosofttraining (POSO) and Remet Corporation. Mr. McCusker is a graduate of Virginia Tech (BS Engineering) and the University of Chicago (MBA).
Chris M. Royston
Managing Partner
Chris Royston was one of the founders of Patriot Capital I, one of the predecessor funds of Patriot Capital II and brings over 20 years experience in middle market lending and investing. Mr. Royston is a principal in the middle market investment banking firm of Bengur Bryan & Co., Inc. He began his career as a portfolio manager with TIAA/CREF, making and overseeing equity, mezzanine and debt investments to middle market companies. He spent over three years with Salomon Brothers Inc. as a vice president in the private placement department, and returned to Baltimore as co-head of the investment banking group at Maryland National Bank. Mr. Royston has particular expertise in credit analysis and underwriting for debt and mezzanine investments. Mr. Royston currently serves as a Board representative for Airoom, Eagle Healthcare and ACCT. Mr. Royston is a graduate of The College of William and Mary (BA) and Columbia University(MBA).
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Patriot Capital Helps Finance Acquisition of Chandler Industries - cbl
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