Key Principal Partners Announces $36 Million Investment in Ohio's Kellermeyer Building Services, LLC.CLEVELAND -- Key Principal Partners (KPP KPP Key Performance Parameter KPP K-Profile Parameterization KPP Kepler Packing Problem (mathematics) KPP Kinoform Phase Plate KPP Kodak Premium Processing KPP Knowledge Processing Subsystem ), a $1 billion private equity and mezzanine firm, announced today an investment of $36 million in subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". and preferred equity in Kellermeyer Building Services. The transaction was made to facilitate the management buyout Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. of the company. As part of the transaction, Kellermeyer's existing management team rolled a significant amount of equity back into the company. "Kellermeyer is a leader in its industry, and the management team's commitment to the company ensures that it will continue its strong growth," said John Sinnenberg, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of KPP. Kellermeyer Building Services, founded in 1967, is a leading provider of customized commercial cleaning services to the retail industry, serving approximately 2,500 stores across 46 states. The company, based in Maumee, OH, employs approximately 6,000 people and has annual revenues in excess of $100 million. "We look forward to partnering with KPP to continue to build our business and expand into new opportunities," said Ken Sander, Chairman and CEO of Kellermeyer Building Services. The investment in Kellermeyer Building Services marks the third investment from KPP's third fund, KPP Investors III, which closed in December 2006. Key Principal Partners (KPP) is a nationally recognized private investment firm providing capital to middle market companies throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . KPP utilizes mezzanine and equity capital to fund the growth, buyout, refinancing or acquisition of profitable companies. KPP's flexible approach to structuring investments does not require control of companies. KPP has over $1 billion in capital under management and can invest $7 million to $35 million in companies with at least $20 million in revenue. Headquartered in Cleveland, KPP is affiliated with KeyCorp, and has offices in Greenwich and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . For additional information, visit: www.keyprincipalpartners.com. About KeyCorp Cleveland-based KeyCorp is one of the nation's largest bank-based financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies, with assets of approximately $92 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. |
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