Praesidian Capital Successfully Exits Senior Secured Debt for National Truck Protection Co.
NEW YORK August 29, 2012 Praesidian Capital (Praesidian or the Firm), a leading provider of mezzanine capital for small and mid-sized companies, reported today it has successfully exited $7.5 million of senior secured debt provided to National Truck Protection Co., Inc. (NTP) in 2007.
The funds supported equity and growth capital investments in NTP by Palladian Capital Partners and NTP Management. NTP is a leading provider of warranties and service contracts to the trucking industry in North America.
With strong leadership provided by the Palladian team, NTP has fulfilled its original promise by continuing the companys established path of profitable growth, noted Neil Marks, Managing Partner at Praesdian. Despite the economic downturn, the company has carved out a niche as the provider of choice for truck buyers.
Praesidian was an outstanding partner, stated Carl D. Glaeser, Managing Partner at Palladian Capital Partners, LLC. Neil Marks and the Praesidian team enabled NTP to prosper even with the recent market conditions.
About National Truck Protection Co., Inc.
National Truck Protection Co., Inc. is the leading independent provider of warranties and service contracts to the North American trucking industry. Headquartered in Carlstadt, NJ, NTP celebrates its 28th year serving owner operators, truck dealers, and truck fleets, leasing and financing companies and virtually any party needing extended coverage on a remarketed vehicle. NTP has been providing the highest quality, most comprehensive products on the market. NTP has earned a reputation for quality, service and dependability. NTPs customers include the most trusted and respected truck manufacturers and dealers in America. NTP provides private label warranties to major OEMs and to all segments of the used truck industry through its extensive network of corporate and independent dealers. For more information, please visit www.ntpwarranty.com.
About Praesidian Capital
Praesidian Capital partners with small and mid-sized businesses by providing private debt capital. With a focus on its core competency in mezzanine financing, Praesidian invests in established, historically profitable companies often in connection with a management/leveraged buyout, recapitalization or refinancing. Based in New York City, Praesidian manages more than $700 million in committed capital. For more information, please visit www.praesidian.com.
About Palladian Capital Partners
Palladian Capital Partners specializes in control or near-control equity investments in established companies. Led by experienced private equity professionals and operating executives, Palladian works with existing management teams to accelerate growth and enhance business value by providing capital, marketing expertise, operating refinements, access to acquisition opportunities, and other resources that may not have been available otherwise. Industry focus areas include business services, software, technology and technology services, business process outsourcing, transaction services, valued-added distribution, niche or specialty manufacturing and selected consumer products. For more information, please visit www.palladiancap.com.
Contact: Rivian Bell
Dan Hilley
The Abernathy MacGregor Group
(213) 630-6550