ACCESS Newswire
21 Nov 2022, 19:25 GMT+10
CHICAGO, IL / ACCESSWIRE / November 21, 2022 / O2 Sponsor Finance, a division of Old Second National Bank, today announced that it provided $13,350,000 in senior secured credit facilities to support West Edge Partners acquisition of Dakotaland Autoglass ('DAG' or the 'Company').
DAG is a leading distributor and service provider of aftermarket automotive replacement glass, paint & body equipment. The Company has been a leading supplier to autobody shops and glass installation businesses in the Midwest for over 40 years. DAG operates 12 locations across North Dakota, South Dakota, Minnesota and Iowa, with its main distribution center and headquarters in Sioux Falls, SD.
'We are excited that West Edge Partners selected O2 Sponsor Finance as senior lender to support their acquisition of Dakotaland Autoglass. We look forward to supporting DAG's ongoing growth.' said Thom Karle, Senior Vice President, O2 Sponsor Finance.
First Capital Partners provided subordinated debt financing and an equity co-investment.
About Dakotaland Autoglass: Founded in 1978 and based in Sioux Falls, SD, Dakotaland Autoglass is a leading distributor and service provider of aftermarket automotive replacement glass and paint & body equipment. DAG operates 12 locations across North Dakota, South Dakota, Minnesota and Iowa with its main distribution center in Sioux Falls, SD. For more information, please visit www.dakotalandautoglass.com
About West Edge Partners: West Edge Partners is a private equity firm focused on investing in business and consumer services, distribution and light manufacturing businesses in the lower middle market. The firm supports its partners through a value added approach and looks to invest in both organic and inorganic growth initiatives. West Edge is Southern California based with offices in both Los Angeles, CA and Philadelphia, PA. For more information, please visit www.westedgepartners.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. For more information, please visit 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 September 30, 2022, Old Second has approximately $6.0 billion in assets, $5.28 billion in deposits and $3.87 billion in loans.
CONTACT:
Brad Adams
630.906.5484
SOURCE: Old Second Bancorp Inc.
Get a daily dose of Cleveland Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Cleveland Star.
More InformationSAN FRANCISCO, California: Grammarly is doubling down on AI-powered productivity tools with the acquisition of Superhuman, a sleek...
NEW YORK, New York -U.S. stock markets closed with broad gains on Thursday, led by strong performances in U.S. tech stocks, while European...
LONDON/STOCKHOLM: The Persson family is ramping up its investment in the H&M fashion empire, fueling renewed speculation about a potential...
PARIS, France: L'Oréal is making a fresh play in the booming premium haircare segment with a new acquisition. The French beauty conglomerate...
MENLO PARK, California: Robinhood is giving European investors a new way to tap into America's most prominent tech names — without...
NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...
Washington DC [US], July 3 (ANI): As the Expedition 73 and Axiom Mission 4 (Ax-4) crews kept up their ongoing space biology studies...
ABU DHABI, 19th June, 2025 (WAM) -- Cleveland Clinic Abu Dhabi has become the first and only research hospital in the UAE to receive...
ABU DHABI, 17th June, 2025 (WAM) -- Cleveland Clinic Abu Dhabi, part of the M42 group, has successfully introduced continuous infusion...
ABU DHABI, 9th June, 2025 (WAM) -- Cleveland Clinic Abu Dhabi has successfully performed the UAE's first robotic cytoreductive surgery...
ABU DHABI,16th May, 2025 (WAM) - Oracle Health, Cleveland Clinic, and G42 today announced a strategic partnership to develop a groundbreaking...
ABU DHABI, 6th May, 2025 (WAM) -- PureHealth and its subsidiary SEHA have partnered with the number one US children's hospital, Cincinnati...