Company Overview
Senators Partners, LLC is the parent company for the Harrisburg Senators, a Class AA minor league baseball team affiliated with the Washington Nationals. The Harrisburg Senators play baseball in Commerce Bank Park, located on City Island in Harrisburg, PA.
Situation
Senators Partners, LLC, led by majority partner Michael Reinsdorf, purchased the Harrisburg Senators from the City of Harrisburg in October, 2007. Mr. Reinsdorf, based in Chicago, IL, considered local equity partners essential for the future success of the Senators.
Griffin was hired by Beacon Sports Capital Partners, LLC, the Senator’s financial advisor, to assist the Company in the private placement of equity capital from regional co-investors. Having worked with Griffin on another minor league baseball team project, and being familiar with Griffin’s extensive contacts with equity sources in the central Pennsylvania region, Beacon recognized that Griffin possessed the unique qualities needed to successfully complete the transaction. As a result, Penn Venture Partners, LP (a Harrisburg, PA based private equity firm), Mark Butler (CEO of Ollie’s Bargain Outlet), and Ed and Jeannie Arnold (prior owners of Arnold Logistics) purchased equity investments in Senators Partners, LLC on March 31, 2008.
For more information on this transaction, please contact John A. Lee, Senior Managing Director, at 610.205.6106 or R. Patrick Wood, Vice President, at 610.478.2110.
