RADNOR, PA, January 10, 2024 – LBC Credit Partners (“LBC”), one of the leading providers of financing solutions to middle market companies, provided a senior secured credit facility to Ambient Enterprises LLC (“Ambient”), a portfolio company of Intermediate Capital Group (“ICG”). The financing helped support Ambient’s refinancing of its existing debt facility, the recent partnership with Johnson Barrow & DMG HVAC, and ongoing organic and inorganic growth initiatives.

LBC served as Sole Lead Arranger and Syndication Agent for the senior secured credit facility.

Ambient is a collective of heating, ventilation and air conditioning (“HVAC”) design and implementation experts. Ambient’s underlying operating businesses have 30+ year histories and are leaders in delivering highly engineered HVAC systems for the commercial end market. Ambient, which had been based primarily on the U.S. East Coast, has expanded to the U.S. West Coast through its partnerships with two established HVAC sales and service organizations: Johnson Barrow, which is renowned for its excellence in HVAC sales and service across the Pacific Northwest, and DMG HVAC (includes DMG, DMG North and ToroAire), which brings a wealth of expertise in HVAC sales, service and parts in California, Hawaii and Nevada. These companies were also selected for their seasoned teams, vast networks and seamless alignment with Ambient’s vision and approach to client service. Ambient is headquartered in New York City. ICG’s initial investment was in Gil-Bar, a leading provider of HVAC solutions and services in the United States.

ICG is a leading global alternative asset manager with over 30 years’ history, providing flexible capital solutions to help companies develop and grow. The firm manages $81bn of assets and operates across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit. ICG develops long-term relationships with its business partners to deliver value for shareholders, clients and employees, using its position of influence to benefit the environment and society. ICG is committed to being a net zero asset manager across operations and relevant investments by 2040. ICG is listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at www.icgam.com. You can follow ICG on LinkedIn, X (Twitter) and Instagram.