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Praesidian Capital Adds $10.5MM to EmpireCLS Investment

April 29, 2015, 07:05 AM
Filed Under: Specialty Industries

Praesidian Capital, a leading provider of senior and subordinated capital for small and mid-sized businesses, announced it is leading a $10.5 million add-on investment, along with United Insurance of America (“Kemper”), in EmpireCLS Worldwide Chauffeured Services, one of the largest independent service providers in the U.S. limousine and chauffeured transportation services industry. Praesidian, Kemper and M&T Bank had previously provided $25.5 million to the company in 2013 as part of a refinancing of senior and subordinated debt.

According to Jason Drattell, founding partner of Praesidian Capital, “Our relationship with EmpireCLS goes back to 2009 when we first provided $10 million in senior secured debt. It’s exciting to see this partnership continue in new ways, and we look forward to continued growth and success.”

Jon Mansfield, Partner of Praesidian Capital, stated: “We are pleased to increase our position in EmpireCLS. This is a company we know well, and management has consistently outperformed expectations.”

EmpireCLS is one of the largest chauffeured transportation companies in the world, operating in more than 700 cities around the globe. The company has offices in Los Angeles and Secaucus, N.J., and employs nearly 550 people.

Praesidian Capital is an innovative private investment firm focused on providing senior and subordinated debt along with growth capital to private lower middle market businesses in the United States, United Kingdom, Germany, and selectively in Northern Europe.

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