Stonebridge Partners Recapitalizes Paramount Mechanical Corp.
March 11, 2021
Stonebridge Partners completed a recapitalization of Paramount Mechanical Corp., partnering with founder Mark Cronin and management while receiving subordinated debt and equity from Midwest Mezzanine Funds, Caltius Structured Capital, 747 Capital and other investors. Debt financing for the transaction was provided by Truist Bank and Midwest; the capital raise is intended to support Paramount's continued organic growth and strategic acquisitions across the Mid-Atlantic and Southeast U.S.
- Buyers
- Stonebridge Partners, Caltius Structured Capital, Midwest Mezzanine Funds, Truist Bank, 747 Capital, Mark Cronin, Paramount management
- Targets
- Paramount Mechanical Corp.
- Industry
- HVAC & Mechanical
- Location
- Virginia, United States
- Transaction Type
- Recapitalization
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