Closed Transaction by Caprice Capital Partners, LLC

Senior Secured Credit Facility Upsize

Equity Co-Investment

Acquisition Financing

LOS ANGELES, April 12, 2023 /PRNewswire/ -- Caprice Capital Partners, LLC ("Caprice") a Los Angeles-based and relationship-driven private investment firm, is pleased to announce it has acted as Lead Arranger for the upsize of its existing credit facility with Eastern Communications Ltd. ("Eastern" or the "Company"), a leading provider of mission-critical communications services in the Eastern US. Caprice has been an investor in Eastern since 2020 as lead credit investor and equity co-investor.

The follow-on investment more than doubled the size of the Company's existing credit facility and was used to support Eastern's acquisition of Marshalltown, Iowa-based RACOM Corporation ("RACOM"), a leading emergency communications service and technology provider serving the Western US. Both Eastern and RACOM have long and successful operating histories and have served customers since the 1970s.   Together, the companies comprise one of the largest service and distribution platforms in the critical communications industry, establishing a truly national presence spanning 16 service locations from Seattle to New York City.

"The ability to grow our partnership with Caprice is a natural extension of the working relationship we've built over the past several years," said Michael Orzetti, CEO of Eastern Communications. "Amid the many variables at play when closing a sophisticated transaction, having a steadfast lending partner capable of navigating through multi-party lending dynamics in a reliable fashion provided comfort and sure footing."

"Eastern has been a massive success story in our portfolio and we are delighted to support this next chapter of the Company's growth," said Caprice Managing Partner, Rich Thomson. "This transaction is a great example of Caprice's ability to craft creative capital solutions and grow with founder-owned companies over time."

About Caprice Capital Partners

Caprice Capital Partners, LLC is a Los Angeles-based, relationship-driven private investment firm focused on providing tailored debt and non-control equity solutions to entrepreneurial, non-sponsor-backed companies in the lower middle market.

Caprice partners with founder-owners as well as independent sponsors and search funds to support buyout, growth, and recapitalization initiatives. Caprice is most effective with shareholders and management teams that are seeking true partnership and better alignment from their non-control capital partners, particularly given the strategic nature and often complex and time-constrained circumstances of the transaction.

Caprice is industry-agnostic and situation-specific, often providing solutions to companies at or near an inflection point. Caprice tends to be the sole lender providing a capital solution between $8 - $50 million to companies with at least $3 million of EBITDA.

If you would like more information about this topic, please contact Jessica Cline at (310) 893-5070 or [email protected]

SOURCE Caprice Capital Partners

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