DALLAS, TX -- Jay Turner, Kevin Glomb, and Chris Crawford of Providence Investment Partners (“Providence”) today announced that the Small Business Administration (SBA) approved the firm’s first Small Business Investment Company (SBIC) license. This milestone marks the official launch of the Dallas-based firm, which provides creative, flexible and patient junior capital to growing lower-middle market businesses. Through its debut fund, Providence makes debt and equity investments where it is needed most: the smaller companies that represent the backbone of the American economy.
The founders of Providence draw upon their experience gained at leading financial firms - including Goldman Sachs, Bank of America, PricewaterhouseCoopers, and JP Morgan Chase - to identify and invest in proven companies. The team’s complementary backgrounds span private debt and non-control equity investing, advising, and operating within founder- and sponsor-owned companies, providing a balanced approach. Additionally, the team's extensive network of contacts across financial sponsors, intermediaries, business owners, and diverse communities helps them source unique investment opportunities.
"Since 1998, I have had the privilege of working with numerous quality private debt and equity funds,” said Jay Turner. "At Providence, we implement best practices from each of our respective prior firms, with the purpose of endeavoring that all our stakeholders flourish as we live out our core values in the marketplace and community.”
“The Southwest has emerged as a national powerhouse of economic growth, with Texas leading the way as the 8th largest global economy,” said Kevin Glomb. “Recognizing this dynamic, Providence will exclusively target investments within the U.S. while prioritizing Texas and the broader Southwest region. Our goal is to leverage our aligned values, proven track record, and deep relationships to emerge as an ideal partner for lower-middle market businesses poised for success. We’re excited to bring greater access to capital to this thriving market.”
Providence will empower entrepreneurs and business owners by offering creative, flexible expansion capital, strategic support and network building. Providence invests across the balance sheet, tailoring thoughtful solutions to meet the needs of each situation. Providence typically invests with companies with $2 million to $10 million of EBITDA and prioritizes investments in the consumer, healthcare, business services, and specialty manufacturing sectors where the team has prior investing experience.
"The team we’ve assembled brings a breadth and depth of investing and hands-on operating experience that we believe is unique amongst junior capital providers in the lower-middle market,” added Chris Crawford. "This versatility enables us to recognize attractive opportunities that others may overlook, and also positions us to offer relevant resources, relationships, and insights to help our sponsor and management partners execute on their vision, in addition to capital for expansion.”
About Providence Investment Partners
Providence Investment Partners is a Dallas-based private investment firm providing creative, flexible and patient capital to proven lower middle-market companies. Providence typically invests in lower middle-market businesses that generate between $2 million and $10 million of EBITDA, structuring investments of up to $20 million, and greater with partners, in the form of unitranche loans, mezzanine debt, preferred or common equity. We partner with independent and traditional sponsors, business owners, and management teams to create shared success.