Private Equity Firm Financial Services

NorthCoast Mezzanine

Minneapolis, MN, United States

NorthCoast Mezzanine provides subordinated debt and non-control equity to businesses across the United States, financing leveraged acquisitions backed by lower middle-market private equity sponsors, management and family-driven ownership transitions, including add-on acquisitions, recapitalizations and growth initiatives. NorthCoast was previously a division of Spell Capital Partners and continues to manage the Spell Capital Mezzanine funds.

Focus Areas
Mezzanine debt, Non-control equity co-investments, Lower middle-market private equity debt/equity

Tracked deals

3

3 tracked deals across 2023-2024.

Recent pace

0

0 tracked deals announced in the last 12 months.

Deal mix

Addon

1 addon · 1 growth capital · 1 recapitalization

NorthCoast Mezzanine Acquisition Volume by Year

Last 2 years

Acquisition volume by year Annual acquisition counts for the last 2 years for NorthCoast Mezzanine. 2 2023 1 2024

Supporting Data

Recent Transactions

  • Buyer
    NewSpring Franchise, Tecum Capital, NorthCoast Mezzanine
    Target
    Shake Smart Holdings, LLC

    NewSpring Franchise has made a strategic investment in Shake Smart Holdings, a healthy fast-casual concept, with mezzanine and equity co-investment from Tecum Capital and NorthCoast Mezzanine. The capital will be used to accelerate Shake Smart's unit expansion beyond college campuses into airports, hospitals, military installations and other non-traditional venues; Satya Ponnuru and Patrick Sugrue will join the Shake Smart board.

  • Buyer
    Benford Capital Partners, NorthCoast Mezzanine
    Target
    RP Foods, LLC
    Seller
    Guillermo Trevino, Longinos Zuniga
    Industry
    Food & Beverage

    Chicago-based private equity firm Benford Capital Partners completed a recapitalization of Dallas-based RP Foods, partnering with Founder and CEO Guillermo Trevino and VP of Sales Longinos Zuniga, who will remain with the company. The investment will fund sales & marketing, operational capability upgrades, product portfolio expansion and support pursuit of add-on acquisitions.

  • Buyer
    TERRA Staffing Group, Hastings Equity Partners, Tecum Capital, NorthCoast Mezzanine, NorthCreek Mezzanine, Management
    Target
    ASG Staffing, Inc.
    Industry
    Staffing & HR
    Type
    Addon

    Hastings Equity Partners' Fund V portfolio company TERRA Staffing Group has acquired ASG Staffing, a Bensenville, Illinois-based industrial staffing firm founded in 1995. The deal—supported by mezzanine and equity investors including Tecum Capital, NorthCoast Mezzanine, NorthCreek Mezzanine and management—adds 10 Midwest offices to the TERRA platform, expanding its geographic footprint and accelerating its plan to build a nationwide industrial staffing platform.

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