Stellus Capital Management Provides Unitranche Financing in Support of Clarion Capital Partners' Investment in International Cybernetics.

Stellus Capital Management provided unitranche financing and equity co-investment in support of Clarion Capital Partners' investment in International Cybernetics. Clarion aims to build a TICC services platform through acquisitions, with ICC being a cornerstone. ICC provides software-powered roadway pavement condition surveys and structural testing services across the US and Canada. The partnership aims to create long-term value and grow the platform.

Stellus Capital Management, LLC has announced the provision of unitranche financing and an equity co-investment to support Clarion Capital Partners' investment in International Cybernetics (ICC). The transaction underscores Stellus' commitment to backing strategic investments in the Testing, Inspection, Certification, and Compliance (TICC) industry.

ICC, a technology-enabled infrastructure management firm, specializes in software-powered roadway pavement condition surveys and structural testing services across the United States and Canada. The company's proprietary software collects data about governments' road networks, providing critical insights for cost-effective safety maintenance and management of infrastructure networks. Additionally, ICC manufactures road condition measurement systems that are sold globally.

Clarion Capital Partners, through a partnership with Mustafa Temiz, a former executive with SGS and Intertek, aims to build a comprehensive TICC services platform. The platform seeks to provide mission-critical field testing, inspection, and consulting engineering services to the surface transportation and electrical infrastructure markets. ICC, led by CEO Michael Nieminen, is seen as a cornerstone of this broader TICC platform.

Eric Kogan, a Clarion Partner, expressed enthusiasm about the partnership with ICC, stating, "ICC's focus on delivering timely and high-quality data collection aligns perfectly with our vision for a broader TICC platform. It's clear that ICC is more than just a service provider—it is a trusted partner to cities and states/provinces across North America. We look forward to creating long-term value with the ICC team and appreciate Stellus' support during this process."

Colin Baker, Managing Director at Stellus, echoed this sentiment, "We are excited to partner with Clarion on this transaction and look forward to working with Clarion, Mustafa, and the ICC team as they seek to grow the broader platform."

This investment marks a significant milestone for both Clarion and Stellus, as they collaborate to expand the TICC services platform and drive innovation in infrastructure management.

References:

[1] https://www.morningstar.com/news/pr-newswire/20250624da16768/stellus-capital-management-llc-provides-unitranche-financing-in-support-of-clarion-capital-partners-investment-in-international-cybernetics
[2] https://www.stelluscapital.com/stellus-capital-management-llc-provides-unitranche-financing-in-support-of-clarion-capital-partners-investment-in-international-cybernetics/
[3] https://www.prnewswire.com/news-releases/stellus-capital-management-llc-provides-unitranche-financing-in-support-of-clarion-capital-partners-investment-in-international-cybernetics-302488885.html