Huntington Capital Fund II LP, a San Diego private equity fund, said it arranged a syndicated mezzanine loan for an undisclosed amount to Protect Plus Air Holdings LLC, a new holding company for five entities in the residential air filter space.
Huntington co-invested in the company with Plexus Capital Fund II LP, based in North Carolina.
Protect Plus was set up for the purpose of facilitating the roll up of five air filtration companies owned and controlled by the Hickory, N.C.-based Lackey Group. Combined, the companies make up the second largest air filtration company in the nation with a diverse portfolio of products, the company said.
Huntington, founded in 2000, invests in established lower middle market businesses with annual revenue of $10 million to $75 million in a broad range of industries, the firm said.
— Mike Allen