Mid-market mezzanine specialist LBC was the lead arranger, bookrunner and administrative agent for the deal.
The financial terms were not disclosed.
California-based The Portfolio Group provides financial services to automobile dealerships. It manages all facets of automobile dealers’ aftermarket, extended warranty and vehicle service contract programs.
Frontenac is currently investing from its tenth fund with a focus on services industries.
The firm has been involved with over 200 ownership transitions in closely-held companies. It says it is a patient investor, allowing the time for companies to realize their full potential.
With over $1.25bn of committed capital, LBC is invested in North American companies operating in a wide range of sectors.
Copyright © 2013 AltAssets