New York, August 5, 2011 – We are pleased to announce that BBH Capital Partners (“BBHCP”) has completed an investment in North American Substation Services, LLC (“NASS”). Based in Altamonte Springs, FL, NASS is an independent provider of mission critical installation, maintenance and repair services for substation equipment across the United States. NASS provides its outsourced services primarily to investor owned utilities, municipal utilities and substation equipment OEMs.
BBHCP’s investment was comprised of both common equity and senior subordinated notes, and will provide NASS with growth capital and facilitate a full exit for the prior institutional investor, Palm Beach Capital. Mark Roberts, the Company's founder and CEO will continue in his role with NASS and remain a meaningful owner of the business. In conjunction with BBHCP’s investment, Joseph Donlan, Bradley Langer and Michael Boylan have joined the NASS Board of Directors. BBHCP was attracted to NASS based on the strength and experience of its management team, its deeply entrenched customer base, its superior value proposition to customers and the favorable trends in its addressable market. The BBHCP team looks forward to working with Roberts and his management team to help grow the business organically and through acquisitions.
About BBH Capital Partners
BBH Capital Partners typically invests $10 million to $50 million of growth equity and, when appropriate, junior debt securities in lower middle market companies in a variety of transactions including management or leveraged buyouts, growth financings, recapitalizations and acquisitions. Typically, BBH Capital Partners seeks to invest in companies with enterprise values up to $400 million. By investing in a variety of subordinated debt and equity securities in control and non-control transactions, BBH Capital Partners offers highly customized financing solutions for companies seeking capital.