Babson Capital Management LLC (Babson Capital), an investment management firm based in Springfield and Boston, Mass., and Charlotte, N.C., provided $6.0 million in mezzanine debt and made an equity co-investment of $1.5 million to support Fort Point Capital’s investment in Church Services LLC.
Church Services, founded in 1990, is a leading provider of residential services to homeowners, including the repair, maintenance and replacement of heating, ventilation, and air conditioning systems, electrical, plumbing, foundation repair and pest control services to the greater Houston, Dallas and Austin metropolitan areas. The company is based in Houston and has branches in Dallas and Austin.
“The Babson Capital team has worked with Fort Point’s partners on investments for well over a decade, so we were pleased to renew our relationship on the Church Services recapitalization,” said Fort Point Capital Partner Brooke Ablon. “With its deep experience in middle-market financing, its responsiveness and its partner-like approach, Babson Capital was a great asset for Fort Point on this transaction.”
“Church Services is well positioned to capitalize on numerous growth opportunities, and Fort Point’s extensive knowledge of best practices across a diverse range of service industries can only improve the company’s already impressive reputation for customer service,” said Mike Klofas, Managing Director and head of the Mezzanine & Private Equity Group for Babson Capital. “Babson Capital is proud to partner with Fort Point on its investment in Church Services and we look forward to working with Brooke and his team on future investments soon.”
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