Building windows

Getting Results – A complex recapitalization

JMBM handled corporate, tax and financing issues for EZ Lube and its shareholders in a complex recapitalization to fund expansion. The transaction involved selling a significant portion of EZ Lube’s owners’ equity position to the affiliate of a New York-based buyout firm, plus a $105 million refinancing of the company with an investment fund and EZ Lube’s existing lender, Goldman Sachs Specialty Lending Group. The Los Angeles Times singled out the deal as a good example for the middle market—one in which the owner-operators obtained additional capital for future growth by liquidating a portion of their value in the company while still maintaining a substantial equity position.