Performance Alloys is a Houston-based specialty distributor of nickel alloy pipe, tubing, fitting and flanges. PA markets its products worldwide to maintenance, repair and operations distributors, pipe fabricators, engineering and construction companies and end users in the hydrocarbon processing industries.

"This financing allowed us to partner with a high caliber sponsor group in Freestone and an equally impressive PA management team, " said Nemo J. Viso, Managing Director at Stonehenge Growth Capital.

"PA fits well into our investment strategy of focusing on privately owned companies with significant operations within our regional markets,” noted Steve Bennett, Managing Director of Stonehenge’s Texas office. “Investing in Texas-based companies will continue to be a strong focus of our investment activities.”

Mark Leyerle, Managing Director at Freestone Partners, commented that, "PA is a focused, service-oriented company with first-rate employees, suppliers and customers. We are delighted to partner with this experienced, dedicated management team in the investment.”

Other capital providers in the transaction included PNC Business Credit and Capital Point Partners.

Stonehenge Growth Capital represents the private equity, lending and venture capital group of Stonehenge Capital Company, LLC. From its five offices, SGC directly originates and manages a wide range of middle market private investments around the country.

Stonehenge Capital Company, LLC (www.stonehengecapital.com) is a nationwide specialty finance firm with expertise in mezzanine and private equity, tax credit finance and structured finance transactions. In addition to its SGC principal investment and asset management activities, SCC has closed more than $1 billion of structured finance and tax credit transactions from its offices in Alabama, Colorado, Florida, Louisiana, Missouri, New York, Ohio, Texas and Wisconsin.