Infinity Arranges Growth Capital Investment for Fine Airport Parking
OKC-based Infinity Capital Partners sourced the investor and advised Fine Airport through the transaction, which closed in August 2021
Oklahoma City, OK (September 27, 2021) - ValorBridge Partners, LLC, an Atlanta, GA-based family office investment firm, has made a growth capital investment in Fine Parking Group, LLC (FINE), a Tulsa, OK-based airport parking management company. ValorBridge Partners invested significant growth capital to support Fine in making two strategic acquisitions located at Houston Hobby Airport and Houston Intercontinental Airport. Chris Amburgy, CEO, and Charles Billera, COO, and other management will remain in place to lead the combined operation.
Fine Airport Parking is a premium provider of airport parking services with locations in Tulsa, Denver, Houston-Hobby, and Houston-Intercontinental airports. Founded in 1983 by Mike Fine in Tulsa, OK, Fine is known for its outstanding customer service, complimentary amenities, and an overall high quality parking experience. Travelers can park for their trip, have their car detailed while traveling, receive free beverages and popcorn before and after traveling, and take complimentary roses home for their loved ones. Fine expanded to Denver, CO in 2017 and added the two Houston locations in 2021.
Fine sought a partner that would be forward thinking and help them be acquisitive during the industry-wide travel downturn to position itself for growth post-pandemic. Throughout the process, ValorBridge maintained their view that the travel industry would recover and that these are quality long-term assets. “We like to invest in businesses that have good fundamentals to them, regardless of what is currently happening in the industry,” said Chris Durham, General Manager of ValorBridge Partners. “Fine fits all the criteria we look for in a business – solid financial track record, quality assets, strong management teams, and exciting growth opportunities. We are excited to be partnering with Chris, Charles, and the team to grow the business.”
Fine has experienced a very strong rebound from pandemic era lows to have record setting months during the summer of 2021. “Chris and his team are one of the few management teams we have worked with where they consistently exceeded their forecast, which is especially challenging to do during a pandemic with unprecedented impacts,” said Chris Lee, Managing Partner at Infinity Capital Partners. “It speaks to both the management team’s resilience and the quality of the assets they manage. I am excited to see the growth the company will experience with ValorBridge’s resources behind them."
“I am extremely proud of our team and the way they have responded to the challenges of the past year and a half. They have worked diligently to manage the business through the pandemic and to position Fine for continued growth,” said Chris Amburgy, Chief Executive Officer at Fine. “The partnership with ValorBridge is exciting because as a family office, they are a perfect cultural fit with our organization, which has been family owned since Mike founded the company in 1983, while also having the resources to help us to grow and scale the business much faster than we could have done organically.”
Infinity Capital Partners served as investment banking advisor to Fine Parking Group, LLC. Hall Estill served as legal counsel to Fine Parking Group, LLC.
Mazzone & Associates, Inc. served as investment banking advisor to ValorBridge Partners, LLC. Smith, Massey, Brodie, Guynn, and Mayes served as legal counsel to ValorBridge Partners, LLC.
About ValorBridge Partners, LLC
ValorBridge Partners is an Atlanta-based private investment firm founded in 2004 that provides an entrepreneurial, value-driven investment approach to capital management through its holding company structure. ValorBridge Partners seeks to augment its holding company's revenue base by forming long-term partnerships with public and private companies that have a proven track record of consistent profitability and potentially high levels of free cash flow. For more information about ValorBridge Partners visit www.valorbridge.com.
About Infinity Capital Partners
Infinity Capital Partners is an Oklahoma City-based middle-market investment bank offering a broad range of advisory services to private companies and financial sponsors across a variety of industries. Infinity works closely with owner-operators, shareholders, founders, and management teams of private companies to provide tailored services including M&A advisory, debt and equity placements, recapitalizations, and strategic advisory. For more information about Infinity Capital Partners, including a list of current projects, please visit our website at www.infinitycapitalpartners.com. Securities placed through Infinity Capital Securities, LLC. Member FINRA.
About Mazzone & Associates
Mazzone & Associates is a mergers and acquisitions advisory firm headquartered in Atlanta, Georgia. Our dynamic professionals provide clients with holistic perspectives, unparalleled strategy, and efficient execution of transactions in the middle market. Our clients include private equity groups, family offices, corporations, and individuals buying and selling companies, raising capital, and structuring debt. For more information, visit www.mazzoneib.com.
Media Inquiries:
Claire Ashworth
Infinity Capital Partners
(405) 400-8977
cashworth@infinitycappartners.com