White Wolf Private Credit Management, LLC (“White Wolf Private Credit” or “White Wolf”) announced that it, in partnership with Source Capital, has supported Seneca Partners’ acquisition of Wyoming Corporate Services.
November 6, 2023 – White Wolf and Source Capital provided the debt and equity capital to close the acquisition and fund additional capital investment. The financing consisted of a senior secured term loan, a preferred equity investment, and common equity co-investment. Details of the transaction were not disclosed.
Headquartered in Cheyenne, Wyoming, Wyoming Corporate Services (“WCS”) is a corporate formation services company focusing on acting as a registered agent, new entity, or company formation, providing aged shelf companies, and other business services.
Mike Skaff, Managing Director of Seneca said, “White Wolf and Source Capital have been great partners for Seneca on the WCS transaction. We worked collaboratively and efficiently through due diligence, and we look forward to achieving significant growth and value creation during our ownership tenure.”
Gerald Pitts, Owner of Wyoming Corporate Services said, “Seneca, White Wolf, and Source Capital, were professional, courteous, and respectful throughout the entirety of the transaction process. The next stage of growth at WCS will be exciting with their new ideas and strategy, and I look forward to partnering with them.”
Judd Kohn, Managing Director, and Head of Enterprise Lending Solutions at White Wolf Private Credit added “We are grateful to Seneca Partners and Gerald Pitts for choosing to partner with us on the next phase of Wyoming Corporate Services’ growth. Under Gerald’s leadership, WCS has established itself as a leader in its industry, and we are confident that our newly formed partnership with Seneca and Gerald will allow for new growth areas and are excited for the future.”
About Wyoming Corporate Services
Founded in 2003, Wyoming Corporate Services is a corporate formation services company focusing on acting as a registered agent, asset protection, aged shelf companies, and other virtual office services.
For more information, please visit www.wyomingcompany.com.
About Seneca Partners
Seneca Partners is an active independent sponsor located in Detroit that works closely with family offices and institutional capital partners to invest in profitable, lower middle market businesses based in the U.S. and Canada where Seneca can play an active, value-added board role, as well as industries where we or our partners have a deep understanding of the dynamics, trends, and growth strategies. Seneca typically invests in business services, manufacturing/industrial services, and consumer focused businesses. Seneca frequently partners with other independent sponsors on transactions they originate.
For more information, please visit www.senecapartners.com.
About Source Capital
Source Capital, LLC is a private investment firm which manages control equity investments and debt investments in U.S.-based lower middle market companies across a range of industries. Source was founded in 2002 and is headquartered in Atlanta, GA.
For more information, please visit www.source-cap.com.
About White Wolf Capital Group
White Wolf Capital Group, Inc. is a private investment firm that began operations in late 2011 and is focused on making direct and indirect investments in leading North American middle market companies.
In general, White Wolf seeks private equity and 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.
White Wolf 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, with a focus on the lower-middle and middle-market.
For further information, please visit https://www.whitewolfcapital.com.
White Wolf’s office locations include Miami, Chicago, Montreal, and New York City.