Public Housing Authority Monthly

On August 31, 2026, KeyBanc Capital Markets (KBCM) successfully advised on the sale of Myers Tire Supply (MTS), a division of Myers Industries (Myers), to Lion Equity Partners (Lion). KBCM was selected to serve as Myers’ Exclusive Sell-Side Advisor based on its industry-leading Specialty Distribution investment banking practice, proven M&A execution capabilities and long-standing relationship with Myers.

Headquartered in Akron, Ohio, Myers is a leading manufacturer of specialized plastic and metal products for the consumer, vehicle, food & beverage, general industrial and infrastructure end markets. Myers operates a portfolio of established brands and manufactures a diverse range of products, including material handling containers, storage solutions, fuel and water storage products, ground protection systems and other engineered products. Myers employs over 2,000 individuals, with over 30 locations globally.

Founded in 1933 and headquartered in Akron, Ohio, MTS is one of the nation’s leading distributors of specialized tire supplies, tools and equipment for the tire service market. MTS provides comprehensive retread and repair consumables, wheel weights, equipment, tire pressure monitoring systems, valves, shop supplies and tools. MTS’s footprint spans the continental U.S., serving thousands of customers across the passenger and commercial automotive markets through four distribution centers.

Headquartered in Denver, Colorado, Lion is a lower middle-market private equity investment firm with over $170 million of assets under management.

On August 27, 2026, KeyBanc Capital Markets Inc. (KBCM) successfully closed the syndication of a $40 million Incremental Term Loan A Facility for WarHorse Gaming, LLC, wholly owned by the Winnebago Tribe of Nebraska’s award-winning economic development corporation, Ho-Chunk, Inc. for an aggregate issuance of $340 million in Senior Secured Credit Facilities. Proceeds from the Incremental Facility will be used to support ongoing construction costs, working capital, and general corporate purposes.

KBCM served as a Joint Lead Arranger on the transaction due to our successful track record of executing syndicated transactions and industry expertise in the debt capital markets. This transaction represents the second transaction with WarHorse.

About WarHorse
The Tribe established WarHorse in 2022 to develop, own, and operate two commercial casinos in eastern Nebraska: WarHorse Gaming Lincoln, LLC and WarHorse Gaming Omaha, LLC. WarHorse completed its multi-phase development in April 2025 and currently features an aggregate of 1,900 slot machines, 28 table games, several F&B options, and other premium amenities. The third WarHorse Casino, expected to open in 2028, will be constructed in South Sioux City and feature over 700 gaming options adjacent to the newly constructed racetrack.

About Ho-Chunk
Ho-Chunk, Inc. was established in 1994 as an independent commercial entity owned by the Tribe. Ho-Chunk owns and operates a diversified portfolio of businesses spanning multiple end markets including gaming & real estate, manufacturing & distribution, consumer, and government contracting. As a long-term capital provider, Ho-Chunk prioritizes their dual mission of generating revenue and affecting positive social and economic impact.

About The Tribe
Winnebago Tribe of Nebraska is a federally recognized sovereign nation comprised of over 5,000 enrolled members. Tribal lands encompass over 27,600 acres across eastern Nebraska.

On August 18, 2026, KeyBanc Capital Markets (KBCM) successfully advised Safe-Way Garage Doors LLC (Safe-Way or the Company), a portfolio company of CW Industrial Partners (CW), on its sale to Point 41 Capital Partners (Point 41). KBCM was chosen to serve as Exclusive Sell-Side Advisor based on its industry-leading Building Products practice and proven M&A execution capabilities.

Headquartered in Warsaw, Indiana, Safe-Way is a leading manufacturer of residential and commercial garage doors serving professional dealers, installers and distributors across North America. The Company offers a comprehensive portfolio of garage door products designed to meet a broad range of performance, aesthetic and end-market requirements. Safe-Way is recognized for its reputation for product quality, customer service and operational reliability, supported by a strategically located manufacturing footprint, long-standing customer relationships and industry-leading delivery performance.

CW is a Cleveland, Ohio-based private equity firm focused on middle-market industrial businesses that manufacture or service engineered products, components and equipment. With more than 20 years of experience, the firm partners with entrepreneurs, families and executives to drive long-term value creation.

Point 41 is a Connecticut-based middle-market private equity firm focused on specialty industrials and services businesses. Founded in 2022, the firm is backed by a team with over 50 years of experience building, operating and investing in middle-market companies. Point 41 partners with management teams to drive transformational growth through operational excellence, sector expertise and strategic execution.

Cain Brothers, a division of KeyBanc Capital Markets, acted as buy-side advisor to Bookmark Medical, a portfolio company of Kinderhook Industries, on its acquisition of the Michigan assets of Village Medical, a subsidiary of VillageMD.

Cain Brothers has a longstanding relationship with Kinderhook and maintains on-going dialogue with Bookmark on M&A and capital raising opportunities. Cain Brothers was engaged based on our deep expertise in primary care, with this mandate further bolstering our credentials in the broader physician group and value-based care sectors.

Bookmark Medical is a provider-led healthcare organization dedicated to improving lives through high-quality care. Serving patients across Arizona, Massachusetts, Michigan, and Tennessee, Bookmark partners with providers to deliver coordinated, patient-centered care rooted in strong community relationships. Through primary care, specialty care, and affiliated provider partnerships, the organization is expanding access to healthcare while improving health outcomes for the communities it serves.

Kinderhook Industries is a private investment firm that has raised over $11 billion of committed capital and has made 500+ investments and follow-on acquisitions since its founding in 2003. Kinderhook matches differentiated, growth-oriented investment opportunities with its financial expertise and proprietary network of operating partners. Kinderhook focuses on middle market businesses with defensible niche market positioning in healthcare services, environmental & equipment services, and industrials & manufacturing.

VillageMD provides high-quality, accessible health care services for individuals and communities across the United States, with primary, multispecialty, and urgent care providers serving patients in traditional clinic settings, in patients’ homes, and through online appointments. Committed to serving all patients and working with all payers, VillageMD consistently innovates value-based care, bringing integrated applications, population insights and staffing expertise to its owned and affiliate practices, ensuring high-quality care, better patient outcomes, and a reduction in the total cost of care.

On July 31, 2026, KeyBanc Capital Markets Inc. (KBCM) successfully closed a $1.05 billion Senior Secured Credit Facility for Avantus LLC (Avantus) in support of their expansive project pipeline. The Facility comprises a $520 million facility upsize to an existing $522 million corporate credit facility put into place in July 2024.

The expanded Facility will advance Avantus’ independent power producer (IPP) strategy and accelerate the execution of its portfolio across core markets in California and the desert Southwest. Its pipeline totals 24 GW of system capacity, including 13 GW of solar integrated with 44 GWh of storage. The near-term portfolio consists of 12 projects totaling 2.6 GWac of solar capacity and 2.5 GWac/9.8 GWh of battery storage capacity, and will generate revenue through long-tenor busbar power purchase agreements with various Tier-I offtakers.

KBCM joined the financing as a new Lead Arranger alongside other institutions.

Avantus Overview
Avantus develops, owns and operates utility-scale clean energy projects across California and the desert Southwest. The company’s development pipeline of solar with integrated storage will generate enough dispatchable power to serve more than 10 million Americans, day and night. Backed by strategic investment from KKR and EIG and building on more than a decade of industry leadership, Avantus is growing its position as an independent power producer, delivering affordable, reliable clean energy solutions to meet America’s growing energy demand.

Cain Brothers, a division of KeyBanc Capital Markets, served as advisor to the combining of Evolution Physical Therapy and Fitness and True Sports Physical Therapy and simultaneous recapitalization by O2 Investment Partners. 

O2 acquired Evolution and True Sports through a newly formed holding company, creating a multi-state outpatient physical therapy and sports performance platform. The founders of both businesses rolled a meaningful portion of their ownership and will continue to lead the new company alongside O2. The transaction reflects Cain Brothers' continued momentum advising sponsors as well as founder-owned healthcare businesses.

Led by founder and CEO Michael Giunta, Evolution is an outpatient physical therapy and fitness provider operating across California, Colorado, and Connecticut. The company delivers a comprehensive service offering spanning sports-related physical therapy, orthopedic and rehabilitation services, performance training, and fitness.

Founded and led by Yoni Rosenblatt, True Sports is an outpatient physical therapy provider focused on sports-specific rehabilitation and performance. The company operates 23 clinics across Maryland, Pennsylvania, Delaware, and Virginia, with a concentration in Baltimore and the greater Maryland market.

Founded in 2010 and headquartered in Bloomfield Hills, Michigan, O2 is a lower middle-market private equity firm that acquires majority interests in family- and founder-owned businesses across niche services, technology, and select industrial sectors. O2 partners with management teams to build and grow their businesses and manages approximately $1.2 billion in assets across its funds.

Cain Brothers, a division of KeyBanc Capital Markets, served as financial advisor to Strive Medical, a portfolio company of NMS Capital, on its sale to Cardinal Health (NYSE: CAH).

Cain Brothers was engaged based on its experience in the home medical supply and DME sectors. The transaction continues Cain Brothers' track record of representing private equity-backed companies and momentum within the post-acute and distribution sectors.

Strive Medical, headquartered in Irving, Texas, is a provider of direct-to-patient urological, wound care, ostomy, incontinence and other medical supplies to patients in their homes and across the U.S. Since its founding, Strive has focused on giving patients the highest quality customer service and best products available.

Cardinal Health is a distributor of pharmaceuticals and specialty products, a global manufacturer and distributor of medical and laboratory products, a supplier of home-health and direct-to-patient products and services, an operator of nuclear pharmacies and manufacturing facilities and a provider of performance and data solutions. The company's customer-centric focus drives continuous improvement and leads to innovative solutions that improve people's lives every day.

Founded in 2010, NMS Capital is a private equity firm managing over $2 billion in assets. NMS has partnered with founders and management teams in over 150 investments and follow-on acquisitions across Business Services and Healthcare Services. The firm’s strategy is to create long-term value by providing strategic and operational resources to accelerate organic and acquisition-driven growth to build industry-leading lower middle market companies in defensible and scalable end markets.

KeyBank Real Estate Capital and Blueprint Healthcare Real Estate provided $17.25 million in acquisition financing for Bethel Retirement Community, a 198-unit independent living and assisted living community in Modesto, California. The Sponsor, Alta-Northstar Senior Living, selected a five-year term with an earnout at first mortgage pricing with a national Life Company.

KeyBank Real Estate Capital has arranged $185 million in new Freddie Mac loans for Brookdale Senior Living Inc. (NYSE: BKD). Acting proactively, KeyBank and Brookdale refinanced pending 2027 debt maturities of Brookdale into new fixed-rate financing at an attractive rate of 5.38%. The new Freddie Mac debt is secured by seven seniors housing communities located on the West Coast. “Brookdale continues to address its debt maturities proactively, and this refinancing extends a portion of our 2027 maturities by six years to 2033 at economically similar terms,” said Dawn Kussow, Brookdale’s Chief Financial Officer. “This refinancing demonstrates the continued confidence our lending partners have in Brookdale’s business, communities, and long-term strategy. We extend our gratitude to Freddie Mac and KeyBank for their continued support and partnership.”

KeyBank Real Estate Capital and Blueprint Healthcare Real Estate provided $11 million in acquisition financing for The Villages of Windcrest, an 81-unit assisted living and memory care facility in Fredericksburg, Texas. The Sponsor, Senior Living Transformation Company (SLTC), selected a five-year term with an earnout at first mortgage pricing with a national Life Company.

On July 8, 2026, KeyBanc Capital Markets (KBCM) successfully closed on the syndication of a $250 million Revolving Credit Facility and $400 million Term Loan B, in addition to the offering of $450 million of Senior Secured Notes (together, the Credit Facilities) for American Greetings Corporation (American Greetings or the Company), a portfolio company of Elliott Management (Elliott) and Clayton, Dubilier & Rice (CD&R). Proceeds from the Credit Facilities will be used to refinance the Company’s existing Term Loan B, repay outstanding Revolving Credit Facility borrowings and pay transaction fees and expenses. KBCM acted as Joint Lead Arranger and Joint Bookrunner on the transaction.

About American Greetings
Founded in 1906 and headquartered in Cleveland, Ohio, American Greetings is a leader in the large and enduring Celebrations marketplace, which includes greeting cards, digital celebrations, e-gift cards, party goods, gift packaging, and physical gifts, such as balloons, candles, and plush toys, among other products.

About Elliott Management 
Elliott was founded in 1977, is one of the oldest firms of its kind under continuous management and manages multi-strategy funds with approximately $79.8 billion of assets under management as of December 31, 2025. A key element of Elliott’s investment approach is its focus on the creation – not just identification – of value. Since 2005, Elliott has made numerous investments in the consumer and consumer services sectors with a focus on industry-leading companies across a range of growth profiles and stages of maturities.

About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice employs a distinctive approach to private equity investing, bringing together professionals and operating executives to pursue a strategy predicated on building stronger, more profitable businesses. Since inception, CD&R has managed the investment of more than $45 billion in over 110 companies. CD&R has a disciplined and clearly defined investment strategy with a particular focus on market-leading multi-location services, manufacturing, and distribution businesses. 

On July 17, 2026, KeyBanc Capital Markets Inc. (KBCM) successfully closed $356 million of Senior Secured Credit Facilities to support Exus Renewables North America, LLC (Exus) and its Exus PA, LLC wind portfolio (Portfolio). The financing includes a $164.9 million term loan, a $161.6 million tax equity bridge loan, and $29.4 million in letters of credit. KBCM acted as Coordinating Lead Arranger, Administrative Agent, Collateral Agent, and Depositary Agent.

The Portfolio consists of Highland North, a 75 MW utility-scale wind facility, and Cambria, a 61.6 MW utility-scale wind facility, both located in Cambria County, Pennsylvania. Each project utilizes Vestas turbines and is currently being repowered by Exus, which acquired the Portfolio in 2024. Cambria is expected to reach commercial operations later this year, with a ribbon-cutting ceremony for the Portfolio planned for September 2026. This financing represents the seventh closed transaction between KBCM and Exus.

The transaction reflects accelerating demand for clean energy from data centers and large corporate consumers. The projects expand Exus's Pennsylvania footprint, where the company owns more than 306.9 MW of wind capacity, including the completed 139.4 MW Twin Ridges Wind Farm in Somerset County.

About Exus
Founded in 2018, Exus Renewables North America is a leading independent power producer and owns, develops, repowers, and manages utility-scale renewable energy and storage assets across the U.S. Exus currently owns more than 5 GW of renewable energy assets and manages over 2.4 GW for third-party clients. Exus is backed by Partners Group, a Swiss-based global private equity firm with $152 billion in assets under management.