Backcast Partners provides senior secured debt and preferred equity to finance an acquisition for one of its portfolio companies

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Jul 28, 2021, 13:24 ET

NEW YORK, July 28, 2021 /PRNewswire/ -- Backcast Partners Management, LLC ("Backcast"), a provider of debt and equity capital for both middle market private equity and non-private equity owned companies, is pleased to announce a recent follow-on investment supporting the acquisition of a leading Canadian HVACR services company by its existing portfolio company, The Arcticom Group ("TAG"). TAG is a leading US-based commercial and industrial refrigeration services company serving grocery and retail customers in North America (www.thearcticomgroup.com).

TAG acquired CT Control Temperature Ltd. and IHM Mechanical Ltd. located in Vancouver, BC, and CTR Refrigeration & Food Store Equipment Ltd. serving the Calgary and Edmonton markets. "The addition of CT, IHM and CTR substantially advances The Arcticom Group as an elite specialty mechanical services company by bringing together market leaders in Western Canada with TAG's existing and loyal customer base throughout the western and southern United States. These substantial additions give us access to the growing Canadian market with full design construction capabilities and a reputation for providing exceptional customer experiences in all aspects of commercial HVACR installation and service" said Jim Pape, TAG's CEO.

Backcast Managing Partner Ed Cerny said of the investment, "Backcast supported TAG in its inaugural acquisition of two leading HVACR service providers in southern California in late 2017. Since that time, we have continued to provide capital to support the company's growth strategy. As a result of these acquisitions, TAG has become a dominant HVACR industry leader in all of its core markets and we are proud to have played our part in helping the company achieve this coveted position over the past 3+ years".

CEO Jim Pape said "At every step of the way, the team at Backcast has delivered not only the required financial capital to execute our acquisition strategy, but also insightful and meaningful human capital provided by the Backcast Operating Partner network. We appreciate the people and approach that Backcast brings to the table."

About Backcast Partners

Backcast Partners, with more than $750 million of capital invested and/or available for future investments, is uniquely positioned to provide thoughtful and customized capital solutions across the capital stack to middle market companies. Formed in 2016 by three former Blackstone senior investment professionals, the Backcast team has been supporting traditional middle market companies for decades. Backcast targets investment sizes from $10 - $100 million. Backcast's investors currently include public and private pensions, insurance companies, foundations, endowments, multi-family offices, and high net worth individuals. Backcast, with 11 members on its team, has offices in New York City, Millburn, NJ, and Los Angeles, CA.

For more information, please contact:

Mark Gudis, Managing Partner
[email protected]
(973) 512-7487
www.backcastpartners.com

SOURCE Backcast Partners