Spring Capital Closes New Investment in Purple RTO Holdings
SPRING CAPITAL PARTNERS IV, L.P.
is pleased to announce the closing of an investment in
Purple RTO Holdings
Subordinated Debt and Equity
Spring Capital Partners IV, L.P. (“SCP IV”) is a Small Business Investment Company (“SBIC”) as licensed by the United States Small Business Administration in accordance with the Small Business Investment Act of 1958, as amended.
Transaction Overview
Spring Capital Partners IV, L.P. (www.springcap.com) invested subordinated debt and equity to support Directional Capital’s acquisition of Purple RTO Holdings (the “Company”). SCP IV partnered with NewSpring Mezzanine and Salem Investment Partners in financing this transaction.
About Purple RTO Holdings
Purple Cactus and Purple Horseshoe (collectively, “Purple RTO Holdings” or the “Company”) operates 63 Rent-A-Center franchise locations spread across the Midwest and Southwest. The Company operates 39 locations throughout Arizona and 24 locations throughout Kentucky, Ohio, and Indiana.
About Spring Capital Partners
Spring Capital Partners was founded in 1999 to provide mezzanine capital to growing small and medium sized businesses. The firm has managed over $600 million of capital and is currently investing out of its fourth fund, Spring Capital Partners IV, a $250 million SBIC. Investments are made in the form of subordinated debt and minority equity, typically in the range of $2 million to $20 million per investment. In addition to investing in change of control/buyout transactions with committed private equity funds and independent sponsors, Spring Capital also provides capital to privately held businesses to support acquisitions, growth, and minority recapitalizations..