Source Capital, through Source Capital Credit Opportunities IV, LP (“SCCO IV”), is pleased to announce that it acted as Administrative Agent and Lead Arranger for the debt financing and equity co-investment to support the acquisition of Salvo Technologies, Inc. (“Salvo” or the “Company”) by private equity sponsors DBHCAP and Tides Capital (collectively, “DBH Tides Capital, LLC” or the “Sponsors”). Along with SCCO IV, the syndicate included Georgia Banking Company, Gladstone Capital Corporation, and Caprice Capital Partners.
Founded in 2006 and based in Tampa, FL, Salvo is a developer and manufacturer of photonics products and sports accessories. Salvo’s photonics profile includes electro optical components and assemblies, fire control optics, custom camera lenses, multispectral and hyperspectral point detection, and imaging systems. The Company has grown rapidly since its inception through organic growth and acquisitions, and Salvo has become one of the leading independent, vertically integrated photonics manufacturing platforms in North America.
“The Sponsors bring significant lower middle market PE experience, dedicated resources, deep domain knowledge, and complementary strategic and operating skills to the Company, and we look forward to supporting the business during its next phase of growth,” said Rob Kissling, Principal at Source Capital.
About DBH Tides Capital, LLC
Desmond Henry of DBHCAP and Scott Mackay of Tides Capital launched their respective firms in order to build a highly focused portfolio of well-positioned, lower middle market companies seeking a partner to help manage critical inflection points in the evolution of their businesses and achieve their next level of growth. While they maintain independent firms, the Sponsors work closely together, leveraging their 15-year relationship and highly complementary skills and networks to bring entrepreneurial passion, best-in-class strategic and operational support, and highly tailored capital solutions to attractive lower middle market investment opportunities. Please visit https://www.dbhcapllc.com and https://www.tidescap.com for more information.
About Source Capital, LLC
Source Capital, LLC is a private investment firm that invests in mature, lower middle-market companies across a range of industries. Source Capital’s investment strategy targets growing companies with greater than $2 million in EBITDA seeking a growth-oriented partner. Since its founding in 2002, Source Capital has made 24 equity platform investments, 52 add-on acquisitions and 40 debt investments. To learn more about Source Capital or to discuss a new equity or debt investment opportunity, please visit our LinkedIn page, our Website, or reach out to a member of our investment team.