Balance Point Capital Partners (“Balance Point”), a private equity fund focused on providing debt and equity capital to lower middle market companies across the U.S. announced today its investment in Mapleton Communications, LLC (“Mapleton” or the “Company”). Balance Point provided Second Lien Subordinated Notes and Unsecured Subordinated Notes to refinance existing debt and support the continued growth of the Company.
Founded in 2001 and headquartered in Monterey, California, Mapleton owns and operates 42 stations in eight medium to smaller markets throughout California, Oregon, Washington and Louisiana. Mapleton operates clusters of four to six stations per region, where they generally hold the #1 or #2 position in the market. The Company is focused on local content with station formats including rock, country, top 40, sports and more. “We are so pleased to be partnering with an experienced lender like Balance Point Capital,” said James Shea, Mapleton’s CEO. “They understand radio broadcasting and the industry’s dynamics very well. We are both excited about the opportunities that exist for Mapleton and are looking forward to a great relationship.”
Seth W. Alvord, the Managing Partner of Balance Point adds, “We are very happy to partner with the Mapleton team. Under Jim Shea’s leadership, and with the strong support of Corporate Partners LLC, the Company has shown impressive growth over the past four years in excess of the overall market. Jim and his team are focused on the key aspects for their business – programming, ratings, and sales. Their strategy has been very successful and we are looking forward to supporting Mapleton’s continued growth.”
Balance Point Capital Partners invests mezzanine and equity capital in select lower middle market companies. Since 1988, the firm and its predecessor funds have invested in over 80 distinct businesses. Balance Point Capital Partners takes a long-term, partnership approach to investing and is committed to building lasting relationships with private equity sponsors, management teams and intermediaries. Balance Point targets companies with EBITDA between $2 million and $25 million and typically invests $5 million to $30 million per transaction. Balance Point Capital Partners is based in Westport, CT.