TRANSACTION ANNOUNCEMENT

TRANSACTION ANNOUNCEMENT

LAKE COUNTRY CAPITAL SELECTS PEF SERVICES FOR FUND ADMINISTRATION

U.S.-based debt and equity investment firm outsources fund administration services to drive growth

WEST ORANGE, NJ (May 8, 2018)—PEF Services, a leading fund administrator for alternative investment managers, today announced that it has been selected to provide fund administration services to Lake Country Capital SBIC, LP, (“LC2”) a Minneapolis-based debt and equity investment firm providing transitional and growth capital to US-based lower middle market companies. PEF Services will provide fund administration services to LC2, supported by PEF’s experienced team and leading-edge fund accounting platform.

LC2 works in partnership with management teams, business owners and private equity firms to finance growth initiatives, recapitalizations and ownership transitions. The LC2 team has overseen nearly $4 billion in credit-oriented transactions, including $700 million in mezzanine and equity investments in 65 lower middle market companies

“PEF’s extensive experience in servicing private equity investment funds, coupled with its advanced technology infrastructure that will allow us to scale, were key factors in our decision,” said Andrew Leonard, Partner at LC2. “Outsourcing fund administration to PEF will enable us to focus on core management and strategic investment initiatives such as business development, portfolio management and investor relations.”

PEF Services is nationally recognized as one of the top boutique fund administrators and back-office specialists for both General Partners and Limited Partners in the alternative asset space.  The Firm’s services include partnership accounting, financial reporting, capital call and distribution processing, investor capital account maintenance, audit and tax return support and coordinated fulfillment of all investor deliverables.

“We are very excited to welcome Lake Country Capital to our family of clients,” said Hank Boggio, Chief Revenue Officer of PEF Services. “Lake Country is focused on driving superior returns to its investors and we look forward to supporting its endeavors to achieve greater efficiencies while focusing on growth initiatives.”

About Lake Country Capital
Lake Country Capital (“LC2”) is a debt and equity investment firm providing transitional and growth capital to U.S.-based lower middle market companies. LC2 targets businesses with EBITDA of $2 million to $10 million across a variety of industries, including the manufacturing, business services, consumer-related and medical/healthcare sectors. The firm invests primarily in debt securities encompassing a range of senior and subordinated, as well as structured equity securities. The firm works in partnership with management teams, business owners and private equity firms to finance growth initiatives, recapitalizations and ownership transitions. LC2 maintains offices in Minneapolis and Los Angeles. For more information on Lake Country Capital, please visit www.lakecountrycapital.com.

About PEF Services LLC
PEF Services provides high-value, high-touch Fund Administration solutions supported by senior professionals with extensive experience in alternative investments.  PEF has a 15-year track record of delivering cost-effective solutions to Funds and General Partnerships, including Buyout, Venture, Real Estate, Special Purpose Vehicles, Mezzanine, Credit, SBIC, and Fund of Funds.  The firm’s LP Administration Solutions Group (LPAS) focuses solely on meeting the unique administration and data needs of limited partners investing in illiquid alternative assets.  In partnering with PEF, firms increase operational efficiency, reduce and control operating costs, improve focus on core capabilities, and gain access to experts in private capital back office operations. For more information please visit www.pefservices.com.

Press Contact
Laura Hills
VP, Marketing
PEF Services
212.203.4685 x180
laura.hills@pefservices.com

LAKE COUNTRY CAPITAL ANNOUNCES FORMATION AS DEBT AND EQUITY INVESTMENT FIRM TARGETING THE U.S. LOWER MIDDLE MARKET

FEBRUARY 2018 — Lake Country Capital, LLC (“LC2”) announces its formation as an investment firm providing flexible debt and structured equity solutions to profitable lower middle market businesses across the U.S. The firm maintains offices in Minneapolis and Los Angeles.

LC2 was founded by partners Chris Daniel, Ann Ferreira, Greg Larson and Andrew Leonard. Each has more than 20 years of lower middle market industry experience and collectively they have invested nearly $3 billion of capital. They have also served in key advisory and board roles for their portfolio operating companies.

Ferreira, Daniel and Leonard were partners on the mezzanine credit investment team at Churchill Capital. They have also invested in the lower middle market with other premier firms across multiple economic cycles. Their mezzanine track record includes $700 million invested in 65 companies analogous to the target investments of LC2. Prior to co-founding Lake Country Capital, Larson was the founder of Creekridge Capital, a nationally-recognized equipment leasing firm that provided growth financing to thousands of lower middle market businesses before its strategic sale to Hitachi Capital, N.A. in 2016.

LC2’s strategy will leverage the strength of the partners’ lower middle market backgrounds with flexible capital and an opportunistic investment approach across industries and transaction types where relationships and alignment with management are critical.

“It’s exciting for Andrew, Chris and I to reunite, and to join forces with Greg,” commented Partner Ann Ferreira. “In my experience, we are a unique investment and ownership team. Our values, philosophy and skill sets are well aligned to deliver excellent results to our business owners and investors. We look forward to putting our relationships and market insights to work on their behalf.”

ABOUT LAKE COUNTRY CAPITAL
Lake Country Capital is a debt and equity investment firm providing transitional and growth capital to U.S.-based lower middle market companies. LC2 targets businesses with EBITDA of $2 million to $10 million across a variety of industries, including the manufacturing, business services, consumer-related and medical/healthcare sectors. The firm invests primarily in debt securities encompassing a range of senior and subordinated, as well as structured equity securities. The firm works in partnership with management teams, business owners and private equity firms to finance growth initiatives, recapitalizations and ownership transitions. LC2 maintains offices in Minneapolis and Los Angeles.