AUSTIN, Texas, May 09, 2017 (GLOBE NEWSWIRE) -- Square 1 Bank, a division of Pacific Western Bank, today announced that it has provided a $20 million credit facility to existing client CIC Partners, an investment firm specializing in early stage, late stage and middle-market investments. Proceeds from the facility will support efforts to bridge the timing between the receipt of capital call proceeds and portfolio investments, payment of management fees and other fund related expenses.
Located in Dallas, CIC Partners is a unique middle-market private equity firm that invests in growth-oriented companies in the food, restaurant, healthcare and energy industries. The firm utilizes its capital and experience to help grow shareholder value through strategic and operational improvements.
Alan Buehler, CIC Partners’ chief financial officer, said, “Square 1 continues to provide CIC with excellent client service and is always quick to respond to our specific needs. When we needed to establish a credit facility for our latest fund in order to make an acquisition soon after fund closing, Square 1 really came through for us. We are pleased to continue our long-standing relationship with Square 1.”
“CIC Partners’ strong management team has a long history of helping companies scale and achieve outstanding results,” added Betty YuHasker, vice president of Square 1’s Equity Funds Group. “We are excited to support their capital needs as they grow the portfolio through future investments.”
About Square 1 Bank
Square 1 Bank is a division of Pacific Western Bank, a Los Angeles-based commercial bank with over $21 billion in assets. A full service financial services partner to entrepreneurs and their investors, Square 1 provides clients flexible resources and attentive service to help their companies grow. Square 1 offers a broad range of venture debt, treasury and cash management solutions through offices in top innovation centers: Atlanta, Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. Pacific Western Bank is a wholly-owned subsidiary of PacWest Bancorp (NASDAQ:PACW). For more information, visit www.square1bank.com.
About CIC Partners
CIC Partners is a middle-market private equity firm that invests in growth-oriented companies primarily in the food, restaurant, and energy industries. CIC manages the personal capital of its investment team, operating partners and strategic investors and seeks to partner with owner-operators, founders and management teams. CIC looks for opportunities where it can leverage the collective experience of its investment team and its operating partners, who are successful CEOs and entrepreneurs, to guide, support and add value to portfolio companies. Based in Dallas, Texas, the firm has been generating wealth in private-equity investing for its investors and management teams for over 25 years. For additional information, please visit http://www.cicpartners.com.