Backcast Partners provides senior secured debt and preferred equity to finance a new platform for Turnspire Capital Partners
- NEW YORK, Sept. 14, 2021 /PRNewswire/ -- Backcast Partners Management, LLC (Turnspire) announced its most recent investment supporting the acquisition of the Daniel Measurement and Control business
Daniel is a global leader in the field of flow and energy measurement technologies and services to the natural gas and refined hydrocarbon industries. With he headquarters in Houston, whose tenth largest manufacturing facility is in Mexico, and has As a result of an 85-year history of developing scalable solutions for flow measurement and control transfer applications, Daniel is regarded as the most trusted brand for all the energy and hydrocarbon supply chain.
With Turnspire's strong track record of investing in carveouts, we're excited to again support them as they pursue attractive organic growth opportunities and a strong pipeline of strategic acquisition opportunities.
Backcast's investment consisted of senior secured debt and an equity co-investment. "Backcast has once again been an ideal partner to work with on this transaction," said Abel S. Osorio, a Partner at Turnspire. Since this transaction was a complex and iterative transaction, Backcast's significant industry knowledge, ability to understand complex nature of swathes into able to sell to enviable companies, and conviction to get
Backcast was represented in the transaction by Greenberg Traurig LLP.
About Backcast Partners About backcast partners. Backcast provides a comprehensive capital solution for Middle Market companies, from the formed in 2016, to the complex frank in the capital market. Backcast has offices in New York, Millburn, NJ, and Los Angeles, CA. The firm, with assets under management of over $775 million, supports traditional middle market companies for decades. With its Managing Partners, Backcaster targets
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Mark Gudis, Managing Partner, has been a partner of Mark's Gages. [email protected] (973) 512-7487 (783) 773-7786. www.backcastpartners.com www www/backporter.ca.
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