PITTSBURGH, Dec. 4 /PRNewswire-FirstCall/ -- F.N.B. Capital Corporation, LLC, the Pittsburgh-based merchant banking subsidiary of F.N.B. Corporation , has provided mezzanine financing to support the acquisition of the assets of Tri-Tech, Inc. by Point Lookout Capital Partners II, LP, a private investment firm based in New York City. In addition to financing the acquisition, a portion of the financing provided by F.N.B. Capital Corporation will be used to invest in global expansion opportunities, enhancement of distribution channels, and increased marketing efforts, as well as product development. Financial terms of the transaction were not disclosed.
"We are honored to enter into this partnership with Point Lookout Capital Partners and Tri-Tech," noted Stephen Gurgovits, Jr., President and CEO of F.N.B. Capital Corporation. "The Company is a leading provider of law enforcement products and crime investigation kits, and they support an invaluable service to society by providing high quality and very effective solutions to crime scene investigations. We are confident that F.N.B. Capital's investment in Tri-Tech will position the Company to continue its path of success and growth within the marketplace."
Founded in 1983 and operating out of Southport, North Carolina, Tri-Tech, Inc. is a leading designer, manufacturer, and distributor of over 4,000 law enforcement products. It is also one of the largest manufacturers of forensic evidence collection kits and DNA collection kits used in crime laboratories and customized crime scene investigation kits. Now doing business as Tri-Tech Forensics, Inc., the Company's products are also utilized by forensic labs, law enforcement agencies, professional sports teams, drug testing laboratories, and large corporations throughout the world.
About F.N.B. Capital Corporation, LLC
F.N.B. Capital Corporation, LLC is headquartered in Pittsburgh, PA. A subsidiary of F.N.B. Corporation, it specializes in providing subordinated debt, private equity, and other types of financial capital to small and medium sized commercial enterprises, focusing on recapitalizations, buyouts, generational transitions, mergers and acquisitions, and other growth capital needs.
About F.N.B. Corporation
F.N.B. Corporation, headquartered in Hermitage, PA, is a diversified financial services company with total assets of $8.5 billion as of September 30, 2008. F.N.B. Corporation is a leading provider of commercial and retail banking, leasing, wealth management, insurance, merchant banking and consumer finance services in Pennsylvania and Ohio, where it owns and operates First National Bank of Pennsylvania, First National Trust Company, First National Investment Services Company, LLC, F.N.B. Investment Advisors, Inc., First National Insurance Agency, LLC, F.N.B. Capital Corporation, LLC, Regency Finance Company and Bank Capital Services. It also operates consumer finance offices in Tennessee and loan production offices in Pennsylvania, Ohio, Tennessee, and Florida.
Mergent Inc., a leading provider of business and financial information about publicly traded companies, has recognized F.N.B. Corporation as a Dividend Achiever. This annual recognition is based on F.N.B. Corporation's outstanding record of increased dividend performance. F.N.B. Corporation has consistently increased dividend payments for 36 consecutive years.
The common stock of F.N.B. Corporation trades on the New York Stock Exchange under the symbol "FNB." Investor information is available on F.N.B. Corporation's Web site at http://www.fnbcorporation.com/.
