LO3 Capital Provides Debt Investment to Support the Santmyer Companies, Inc's. Acquisition of Cole Distributing, Inc.

NEW YORK, May 2, 2023 /PRNewswire/ -- LO3 Capital, a private investment firm committed to providing lower-middle market companies with transformative capital, announced today that it provided a senior subordinated debt investment to support the Santmyer Companies, Inc.'s (Santmyer) acquisition of Cole Distributing, Inc. (Cole Distributing).

A privately-owned and family operated company established in 1952 in Wooster, OH, Santmyer is a leading full-service petroleum marketer in northeast and central Ohio. Santmyer's primary offerings include diesel, gasoline, propane, lubricants, diesel exhaust fluid, and logistics services. Cole Distributing, based in Shelby, Ohio, is a distributor of propane, commercial fuels, and lubricants.

Zach Santmyer, the President and CEO of Santmyer, stated, "the Cole family has built a phenomenal business, and we are excited to build upon their legacy of propane and fuels distribution in north central Ohio. As we continue to expand our footprint, we're glad to work with LO3 Capital. They were able to step in, quickly understand our vision for Santmyer, and provide the support needed to close on a transformative acquisition."

"We're excited to partner with the talented management team at Santmyer," said Glenn Harrison, LO3's managing partner. "The acquisition positions Santmyer as a leading fuel distributor in the Ohio region and will allow the company to continue to provide outstanding service to its growing customer base."

About LO3 Capital
LO3 Capital is a minority owned private investment firm committed to helping lower-middle market companies grow. The firm has offices in Nashville, New York and Dallas and targets business with over $3 million of EBITDA across a variety of industries. LO3 Capital partners with management teams, business owners, and private equity firms to finance organic growth, acquisitions, recapitalizations, and ownership transitions.  LO3 Capital was previously a division of Live Oak Growth Capital and continues to manage the Live Oak Growth Capital funds. For more information, please visit lo3capital.com.

SOURCE LO3 Capital LLC