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LightBay Capital, Freeman Spogli buy FASTSIGNS

Private equity firms LightBay Capital and Freeman Spogli Management Co. LP teamed up to purchase FASTSIGNS International Inc.

FASTSIGNS is a signage and visual graphics company headquartered in Carrollton, Texas.

LightBay mainly invests in consumer, healthcare and business services companies in the middle market, while Freeman focuses on U.S.-based consumer-related and distribution companies.

Ares Capital Corp. and other Ares Management affiliated funds provided senior debt financing to FASTSIGNS for the transaction.

Proskauer LLP was legal adviser to LightBay and Freeman. Kirkland and Ellis LLP and Greenberg Traurig LLP were legal advisers to FASTSIGNS, and North Point Advisors LLC and Harris Williams & Co. were its financial advisers.