North Branch Capital has invested in Callaway Industrial Services, a provider of plant maintenance services based in Mooresville, North Carolina. No financial terms were disclosed.
Callaway offers specialized cleaning, painting, flooring, upfits, renovation and other facility management services to industrial and commercial plants. The transaction closed on August 14 and is the fifth platform completed from North Branch’s Fund II.
The deal marks the 50th transaction for the Oak Brook, Illinois-based firm since it launched in 2014. North Branch invests in lower-middle-market industrial businesses.
Loren Buschick, vice president at North Branch, said Callaway is "well-positioned to continue its rapid growth in the large and highly fragmented industrial services market." O2 Sponsor Finance provided a working capital line of credit and a senior term loan facility for the deal. Katten Muchin Rosenman served as legal counsel to North Branch, while ICG Capital Securities was exclusive financial adviser to Callaway.
Source: PE Hub · Summarized by HeadlinesBriefing