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South Franklin Street Partners Provides Senior Subordinated Debt and Preferred Stock to Support Buyout of National Mobile Television
Cleveland, Ohio (November, 2006) -- South Franklin Street Partners' Mezzanine Fund (ACP-I, L.P.) provided senior subordinated debt and preferred stock to support the acquisition of National Mobile Television (NMT) by a group of private equity investors.
National Mobile Television, headquartered in Torrance, CA, is the second largest provider of mobile television production facilities in the United States. The Company's current fleet of active mobile units is rented by major broadcasters for creating live telecasts, primarily for sporting events.
NMT also generates revenues from on-site broadcast production and infrastructure work for the United Nations as well as provides systems integration, engineering and consulting services to external customers. In addition, the Company receives income from its ownership stake in AEG Teleworks, a fixed production facility, which offers production and editing services at the Staples Center in downtown Los Angeles.
About South Franklin Street Partners
South Franklin Street Partners, through its mezzanine fund, ACP-I, L.P., is in the business of investing junior capital in middle market companies with annual revenues between $10 million to $150 million. ACP-I utilizes its capital to fund buyouts of minority or majority shareholders, ESOPs, non control recapitalizations, generational transfers, acquisitions, or to facilitate the growth of profitable middle market businesses. ACP-I's target investment size is $2 million to $10 million but can provide additional capital in conjunction with affiliated investors. ACP-I normally invests subordinated debt with warrants or preferred stock with an equity participation feature. Other structures will be considered, where appropriate.
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