Source Capital, through its second SBIC fund, is pleased to announce its investment in Sam The Concrete Man ("SamCo" or the "Company"), the largest residential concrete services franchisor in the United States. Source Capital supported the acquisition of SamCo by private equity sponsor Eagle Merchant Partners ("Eagle"), providing debt financing and an equity co-investment.
Founded in 1989 and headquartered in Centennial, CO, Sam The Concrete Man has more than 80 active franchise units across 30 states. The Company provides residential concrete services for driveways, walkways, and patios as well as commercial services for parking lots, entry ways, and sidewalks for commercial clients.
"SamCo has done a great job of building a unique and best-in-class franchise model, especially over the last few years, that is well positioned for future growth", said Joe Rodgers, Managing Director at Source Capital. "We continue to be impressed by Eagle's franchise investment expertise and are excited to partner with them on yet another deal and to help scale SamCo for the next phase of growth."
About Eagle Merchant Partners
Eagle Merchant Partners specializes in partnering with founder-owned businesses in the Southeast, focusing on unique growth opportunities. With a keen eye for investment in leading franchise, consumer, and commercial services, Eagle Merchant Partners is one of the region's most experienced private equity investors. The firm acts as a strategic partner committed to creating long-term value for its portfolio companies during critical transition points. For more information, visit https://www.eaglemerchantpartners.com/.
About Source Capital
Source Capital is an Atlanta, GA based private investment firm that has been providing flexible equity and debt capital to lower middle market companies for over 20 years. The firm has a value-added investing approach that brings (i) patient capital focused on long-term value creation; (ii) collaborative partnerships with management teams, founders/owners, private equity investors and independent sponsors; and (iii) strategic and operational resources to its portfolio companies. To learn more about Source Capital or to discuss a new equity or debt investment opportunity, please reach out to a member of our investment team or visit www.source-cap.com.