Exeter Street Capital Partners, the private equity affiliate of Patriot Capital Group, today announced its majority recapitalization of Triangle Sign & Service, LLC (“Triangle” or the “Company”) in partnership with Harbert Credit Solutions, Northcreek Mezzanine, and Company leadership.
Based in the Baltimore, Maryland area for nearly 90 years, Triangle is a leading national provider of commercial signage, lighting, and facility service solutions. Its turnkey solutions include in-house design and engineering, site-and permit-planning, start-to-finish project management, and state-of-the-art production facilities which enable the Company to support a diverse, blue-chip customer base representing some of the largest globally recognized brands.
Triangle’s focus on high-quality products and exceptional service has attracted a highly diversified, recurring customer base in key sub-sectors such as telecommunications, food and hospitality, corporate image, real estate development, high-end luxury, education, financial services, automotive, hospitality, and other consumer goods and services. Triangle also recently expanded to provide a full suite of commercial lighting and related facility services, enabling it to serve as a “one-stop” solution provider for its customers nationwide.
“We are thrilled to forge this partnership with Steve Altshuler, president of Triangle, and the entire Triangle team to power the next chapter of growth for this tremendous business. Triangle has become a leader in this dynamic market by focusing on long-term customer relationships, exceptional quality and service, and its proprietary manufacturing expertise. Triangle is a great fit for Exeter’s strategy of investing alongside passionate leadership to develop new growth channels, optimize operations and expand through acquisitions,” said Franklin Staley, managing director of Exeter.
“We are excited to partner with Exeter to take advantage of the numerous opportunities we have to invest in and grow our business,” said Steve Altshuler. “Exeter shares our corporate culture for exceptional quality, tireless dedication to our customers, care for our employees, and service to our community, all of which have enabled our company to sustain itself as a long-term leader in this industry for nearly 90 years.”
“Exeter and Triangle are actively seeking add-on acquisitions in the commercial signage, lighting, and facility services sectors, and would welcome any conversations regarding such opportunities,” added Staley.
First National Bank provided senior debt financing for the deal. Nelson Mullins represented Exeter in the transaction.