TSL Express Daily News

Norwalk, CT – January 10, 2024 – Encina Private Credit, LLC (“EPC”) is pleased to announce that it has served as Administrative Agent and Collateral Agent for a Senior Secured Credit Facility supporting H.I.G. Capital’s acquisition of Penhall Company (“Penhall” or the “Company”), North America’s largest provider of specialty concrete services. Marathon Asset Management led the facility. 
  
“We are extremely excited to partner with Penhall, H.I.G. Capital, and Marathon Asset Management by delivering our unique suite of lending capabilities in the form of First Out financing,” said Mike Hensinger, President and Chief Executive Officer at Encina Private Credit.
 
Headquartered in Irving, Texas, Penhall has a network of over 40 branch and service locations throughout the United States and Canada. Since its founding in 1957, the Company has served over 160,000 clients across a broad range of end markets including commercial, residential, industrial, and infrastructure. Penhall provides a full range of concrete services, including cutting and coring, specialized demolition, GPR concrete scanning, digital X-ray, utility locating, fiber-reinforced polymer (FRP), grinding and grooving, and bridge services.

About Encina Private Credit
Encina Private Credit is a specialty finance company that partners with direct lenders to provide enterprise value loans to private equity-sponsored and non-sponsored borrowers. EPC provides credit solutions in the form of First Out priority revolvers, term loans, and DDTLs. 

For additional information, please visit EPC's website at https://privatecredit.encinacapital.com/ 

About H.I.G. Capital
H.I.G. is a leading global alternative investment firm with $60 billion of capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/ value-added approach:

1. H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
4. H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.

Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

*Based on total capital raised by H.I.G. Capital and its affiliates.