CHICAGO, IL / ACCESSWIRE / August 8, 2023 / O2 Sponsor Finance, a division of Old Second National Bank, today announced that it provided $25,000,000 in senior secured credit facilities to support Pike Street Capital's portfolio company PumpTech in its acquisitions of Alpha Southwest and Pipestone (together "PumpTech").
Founded in 1964 and headquartered in Albuquerque, New Mexico, Alpha Southwest supplies water treatment maintenance services, custom-engineer pumping systems and fluid handling systems primarily to municipalities in New Mexico and Texas.
Founded in 2009 and headquartered in Golden, CO, Pipestone Equipment distributes valves, gates, vault systems, and other flow control products for the water and wastewater industry.
"We are thrilled that Pike Street Capital selected O2 Sponsor Finance as senior lender to PumpTech to support their acquisitions of Alpha Southwest and Pipestone. PumpTech is building a unique platform focused on flow control products and services for municipal and industrial end markets. We believe the company is well positioned to capitalize on the aging water and wastewater infrastructure in the United States", said Nick O'Brien, Vice President, O2 Sponsor Finance.
About PumpTech: Founded in 1986, PumpTech is a premier distributor of high-quality pumping products and systems in the Pacific Northwest. Bellevue, Washington-based PumpTech also provides services from engineering design to installation and maintenance agreements, with four facilities to cover the entire northwest, including Moses Lake, Washington, Canby, Oregon, and Boise, Idaho in addition to its Bellevue headquarters. More information is available at www.pumptechnw.com.
About Pike Street Capital Pike Street Capital invests in middle-market companies with leading market positions, strong management teams, and discernible growth drivers. The firm targets sectors serving professional customers and B2B growth where it has relevant investing and operating experience, including industrial technology, specialty manufacturing, distribution & logistics, and business services. The firm's $237 million over-subscribed inaugural fund closed in November 2020. More information is available at www.pikestreetcapital.com.
About O2 Sponsor Finance: O2 Sponsor Finance is a national provider of cash flow-based loans to lower middle market businesses with typically $10 to $100 million in revenue and between $2 million and $10 million in EBITDA. O2 Sponsor Finance focuses on supporting private equity sponsors, independent sponsors and family offices in their acquisition or recapitalization of lower middle market companies. www.O2sponsorfinance.com.
About Old Second Bancorp, Inc.: Old Second Bancorp, Inc., headquartered in Aurora, Illinois, is the bank holding company for Old Second National Bank, which celebrated 150 years of operation in 2021. Old Second's common stock trades on The NASDAQ Stock Market under the symbol "OSBC". More information about Old Second is available by visiting the "Investor Relations" section of its website: www.oldsecond.com.
Old Second National Bank, Member FDIC, was recently named number one among "Best Bank in Illinois 2021." This was the second straight year the bank was selected by customers for the award. Awards are determined based on a survey of over 25,000 U.S. customers who rate banks on overall satisfaction as well as trust, terms and conditions, branch services, digital services and financial advice.
As of June 30, 2023, Old Second has approximately $5.9 billion in assets, $4.7 billion in deposits and $4.0 billion in loans.
CONTACT:
Brad Adams
630.906.5484
SOURCE: Old Second Bancorp Inc.
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https://www.accesswire.com/772368/O2-Sponsor-Finance-Provides-25MM-Credit-Facility-to-Support-Pike-Street-Capital-Portfolio-Company-PumpTech-in-its-Acquisitions-of-Alpha-Southwest-Pipestone
