June 23, 2017 – BB&T provided NSC Technologies (“NSC”) with a $12 million revolving line of credit. The new line of credit was used to refinance existing bank debt and improve the overall capital structure.
The larger and more flexible line of credit will support higher organic growth and help fund follow-on acquisitions. White Wolf Capital (“White Wolf”) recapitalized NSC, in partnership with NSC’s management team, in November 2016.
BB&T is one of the largest financial services holding companies in the U.S. with $220.5 billion in assets and market capitalization of $36.3 billion as of March 31, 2017. Building on a long tradition of excellence in community banking, BB&T offers a wide range of financial services including retail and commercial banking, investments, insurance, wealth management, asset management, mortgage, corporate banking, capital markets and specialized lending. Based in Winston-Salem, N.C., BB&T operates more than 2,100 financial centers in 15 states and Washington, D.C. A Fortune 500 company, BB&T was recognized as one of Forbes’ 2017 Best Banks in America and is consistently recognized for outstanding client service by Greenwich Associates for small business and middle market banking. For further information, please visit: www.bbt.com.
NSC specializes in staffing and workforce management solutions for a wide range of industries including: defense, marine, energy and industrial markets. NSC’s staffing experts identify top technical professionals and craftsman who are reliable, verifiably skilled and safety-minded to support customers as direct hire or contingent employees. For further information, please visit: www.nsc-tech.com.
White Wolf Capital is a private investment firm that began operations in late 2011 and is focused on making both direct and indirect investments in leading middle market companies located in North America.
On the direct side, White Wolf Capital seeks both private equity as well as private credit investment opportunities in companies with $20 million to $200 million in revenues and up to $20 million in EBITDA. Typical situations include, management buyouts leveraged buyouts, recapitalizations and investments for growth. Preferred industries include manufacturing, business services, government services, information technology, security, aerospace and defense.
In addition to making direct investments in operating companies, White Wolf Capital also looks to invest with other private fund managers as a limited partner. Targeted investment candidates are North American focused private credit funds looking to raise $50 million to $500 million in assets under management, with a focus on the lower-middle and middle-market. For further information, please visit: www.whitewolfcapital.com.