Daily News
From Home Furnishing Business
New Water Capital Partners Invests in Pride Family Brands
July 22,
2015 by in Economic News, Industry 
Philadelphia-based LBC Credit Partners has provided a senior secured term loan to support the recapitalization and investment in Pride Family Brands by New Water Capital Partners, a $406 million private equity fund that focuses on investing in lower middle market companies in the consumer products, retail and industrial manufacturing industries.
LBC Credit Partners served as agent for the senior secured term loan facility.
Fort Lauderdale, Fla.-based Pride Family Brands designs, manufactures and distributes hand-forged aluminum outdoor furniture under the Castelle, Prestige and Expressions brands, and designs and supplies promotional outdoor furniture under SummerWinds and private label brands. It was founded more than 30 years ago by Bernie Lowsky and his sons Jamie and Steve Lowsky. They grew the company from a local retailer to an international designer, manufacturer and distributor of unique outdoor furniture that services more than 1,000 retail locations in the United States.