Assurance Mezz Completes Investment in Webster Electric Co., Inc. and Webco Leasing & Supply, LLC

Assurance Mezzanine Fund (“Assurance”) is pleased to announce its latest investment in Collinsville, MS-based Webster Electric Co., Inc., and Webco Leasing & Supply, LLC (“Webster”).  Assurance partnered with Robert Manner’s private equity group, Providence Group, L.P. to provide capital to Webster Holding Group, LLC, a newly formed entity which acquired Webster.

Webster is an electrical contracting company headquartered in Collinsville, Mississippi. The company installs and maintains industrial, electrical and communications systems for highways, airports, government buildings, bridge upgrades, infrastructure upgrades, and maintenance related work. Much of this work involves Intelligent Transportation System (“ITS”) installations and upgrades, such as Automated Weather Observing Systems (“AWOS”), Automated Surface Observing Systems (“ASOS”), speed monitoring systems, fiber-optics upgrades, weigh-in-motion stations, communications towers, centrally controlled hurricane evacuation routes, and high performance “smart” communications capabilities with government transportation centers. The Company also installs state of the art security/monitoring systems for government-related authorities.

Assurance provided mezzanine debt in support of Providence Group, L.P.’s acquisition of Webster.

To learn more about Webster, please visit: http://www.webster-electric.com

To learn more about Providence Group, L.P., Please visit: www.providencegrouplp.com

About Assurance Mezzanine Fund

Assurance Mezzanine Fund is a private investment firm providing $3 to $20 million customized growth capital solutions to profitable, lower-middle-market companies nationwide. We look to invest our funds in established companies operated by experienced and proven management teams with a history of building enterprise value. Assurance Mezzanine Fund was created by former industry executives and experienced investors who place a high value on their relationships with management teams.

Investment Criteria

  • Private and public companies generally headquartered within the United States
  • $1 to $10 million EBITDA
  • Experienced and committed management teams with a history of building enterprise value
  • Funding identifiable growth initiatives
  • Effective financial controls and information systems with a history of profitability
  • Industry agnostic, although we will not invest in real estate or oil and gas exploration (oil and gas service companies are welcome)

We do not invest in early or developmental stage businesses, turn-around or distressed situations.

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