O2 Sponsor Finance Provides Senior Secured Credit Facilities to Support Graycliff Partners’ Growth Investment in Republic Electric Company
CHICAGO, IL / ACCESSWIRE / May 4, 2023 / O2 Sponsor Finance, a division of Old Second National Bank, today announced that it provided senior secured credit facilities to support Graycliff Partners' growth investment in Republic Electric Company ("Republic").
Founded in 1916, Republic is a distributor of HVAC, electrical equipment and related components for use in residential, commercial, and industrial applications. Republic provides products and support to a broad base of customers, primarily HVAC and electrical contractors as well as industrial and OEM customers. The company supplies over 40,000 different products including residential and commercial HVAC systems, switch gear, controls, and lighting solutions, as well as related parts and tools. The company also provides logistical support, training, technical assistance, and other value-add services with a focus on customer service, delivery speed, reliability, and product availability. Based in Davenport, IA, Republic serves over 1,000 customers from five locations across Iowa and Illinois.
"Republic has developed a strong reputation as a value-added partner to their customer base in this region for over 100 years. We look forward to helping Graycliff and the Republic management team accelerate growth by expanding branch locations and by providing support for strategic acquisitions," said Thom Karle, Senior Vice President, O2 Sponsor Finance.
About Republic Electric Company:
Founded in 1916, Republic Electric Company is a Davenport, Iowa based distributor of HVAC, electrical equipment and related components for use in residential, commercial and industrial applications. For more information visit: www.republicco.com
About Graycliff Partners:
Graycliff Partners is an investment firm focused on making lower middle market investments, typically in
manufacturing, business services and value-added distribution businesses. Through dedicated equity and credit funds, Graycliff provides capital for acquisitions, management buyouts, recapitalizations, growth and expansion. For more information about Graycliff Partners visit www.graycliffpartners.com.
About O2 Sponsor Finance: O2 Sponsor Finance is a national provider of cash flow-based loans to lower middle market businesses with typically
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 December 31, 2022, Old Second has approximately
SOURCE: Old Second Bancorp Inc.
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