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PNC Riverarch Capital Leads Recapitalization of Feeders Supply

May 04, 2016, 07:53 AM
Filed Under: Retail

PNC Riverarch Capital announced the recapitalization of Feeders Supply Company, LLC, a leading specialty retailer of pet food and supplies headquartered in Louisville, Kentucky. The transaction also included a significant re-investment by President and CEO Pam Longwell, who will continue to lead the business.

Founded in 1959, Feeders Supply currently operates 16 retail locations primarily in the Louisville metropolitan area. The company is focused on providing “everything you need for all the pets you feed” and offers a broad selection of premium pet food brands and products.

The transaction for PNC Riverarch Capital was led by Michael Rost, managing director; Andrew Wiechkoske, director; David Poss, senior associate; and Ian Garland, associate. PNC Riverarch Capital will be represented on the Board of Directors by Rost and Wiechkoske. Senior debt financing for the transaction was provided by Golub Capital LLC.

“The company’s customer service orientation and strong ties to the local community have created a well-respected brand with a loyal following,” said Rost. “We believe that Feeders Supply’s strong management team, proven operational excellence, and solid reputation position the company to continue to capitalize on the expected growth in the pet industry.”

 “I believe PNC Riverarch Capital is the right partner to take what my family and I, along with others, have built to the next level,” said Pam Longwell. “We remain committed to bringing our unique pet lovers store experience to pet parents in the markets we currently serve and in the expansion markets we’re exploring.”

PNC Riverarch Capital is a middle-market private equity firm which invests in privately held companies headquartered in North America.  The firm seeks well-positioned companies where it can invest $10 million to $50 million of capital in support of leveraged and management buyouts, recapitalizations, corporate divestitures and growth financings.  PNC Riverarch Capital invests across a variety of industry sectors, including consumer products and services, outsourced business services, specialized manufacturing, and value-added distribution. 

PNC Riverarch Capital is a division of PNC Capital Finance LLC, a wholly owned indirect subsidiary of The PNC Financial Services Group, Inc. Since 1982, PNC has invested over $1.0 billion of equity capital in more than 100 companies.

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