Praesidian Capital Agents $32.5 Million Senior Debt Investment In Palmetto Moon
Summary
They provided a tailored financial solution which will allow us to execute the Company’s growth plans and we appreciate their continued support.” Martin Sobol, Partner at Motivity, stated: “Praesidian listened to our needs and delivered flexible capital, which will be instrumental in continuing to expand the Palmetto Moon geographic footprint.” Glenn Harrison, Partner of Praesidian Capital, commented: “We are very excited to have completed our second transaction with Topspin and our first with Motivity. We are confident that their combined industry expertise will drive the Company’s continued success for years to come.” Founded in 2002 and headquartered in Charleston, SC, Palmetto is a specialty lifestyle retail chain with nine stores in South Carolina, one in Pooler, GA and one in Wilmington, NC. Topspin Partners is a suburban NY-based private equity fund that makes control investments in profitable and established lower middle-market businesses. The firm invests across a number of industries, including niche consumer, health and wellness, food and beverage, business services and security. Motivity focuses on the fastest growing segments, both demographically and within the industry and partner with established dynamic retailers with strong management teams that have proven an ability to adapt and to differentiate from the competition.