F.N.B. Capital Partners Adopts New Name, Tecum
PITTSBURGH – F.N.B. Capital Partners, an entity that takes investment positions in small businesses, Wednesday adopted a new name, Tecum Capital Partners.
While F.N.B. Capital Partners was formed in 2005 as a subsidiary of F.N.B. Corp., parent of First National Bank of Pennsylvania, it was spun off in 2013.
“Tecum,” Latin for with you, “more clearly reflects the organization’s approach to investing,” said co-founder and managing partner Stephen J. Gurgovits Jr. “The investments we make are mutually beneficial partnerships with our clients. … This new direction under the Tecum name underscores our strategic focus on growing small businesses under our own banner.”
Since it was founded 11 years ago, the small-business investment company has invested more than $200 million in more than 40 companies throughout the eastern United States although most have been in Pennsylvania and Ohio, Gurgovits said.
It takes an ownership stake of between $3 million and $15 million per transaction, the firm says, and specializes in mezzanine financing, subordinated notes and private equity.
Tecum has what Gurgovits describes as “a strong investor base, including a host of high net worth individuals and business operators along with seven banks that serve as limited partners.” He hopes to bring in more banks as limited partners.
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