Private Equity
Loan investors are fighting back against private equity attempts to get increasingly aggressive terms in financing their LBOs, Bloomberg reported citing a survey from Covenant Review. Several recent leveraged loans to finance buyouts, including for Whataburger Restaurants, Teneo Holdings, MyEyeDr and SnapAV, received major overhauls to investor protections known as covenants, the story said.
1 min read · 14 August 2019
Credit Suisse Asset Management has agreed to increase funding to GigNet Inc, a digital infrastructure provider in Mexico. No financial terms were disclosed. The capital infusion will be used to complete a 200-kilometer fiber-optic network in the Mexican Caribbean.
3 min read · 13 August 2019
Yukon Partners has provided financing to back Audax Private Equity's acquisition of York, Maine-based Stonewall Kitchen, a provider of specialty food products. No financial terms were disclosed.
3 min read · 13 August 2019
Antares has provided a credit facility to back Alpine Investors' investment in Frank Gay Services and Best Home Services to form Apex Services, an HVAC, plumbing and electrical services platform. No financial terms were disclosed.
2 min read · 13 August 2019
Second Avenue Capital Partners LLC and White Oak Commercial Finance LLC has provided a $16 million credit facility for Charleston, South Carolina-based Marolina Outdoor Inc, an apparel company. Marolina is a portfolio company of Goode Partners LLC.
4 min read · 13 August 2019
Anvil Capital Partners has provided an $11 million loan to Fort Worth, Texas-based Vermilion Cliffs Partners, an exploration production and midstream company. The capital will be used to back an acquisition of producing assets in the Permian basin.
2 min read · 12 August 2019
Carlyle Group agreed to provide up to 176 million pounds ($213.8 million) in financing to Leaders Romans Group, a U.K.-based property services group owned by Bowmark Capital. Financing includes a 126 million pound senior secured term loan, 25 million pound acquisition facility and up to 25 million pound accordion acquisition facility. Carlyle provided the financing through its Carlyle Credit Opportunities Fund, which closed on $2.4 billion.
2 min read · 09 August 2019
A DWS Group-led investor group that includes Blackstone Strategic Partners and StepStone Group, has provided financing to back Snapdragon Capital Partners’ and The Maze Group’s investment in Nutraceutical International Corp. No financial terms were disclosed. Nutraceutical is a provider of branded nutritional supplements, personal care and other natural products. Nutraceutical is backed by HGGC.
2 min read · 07 August 2019
Barings has closed its second European private loan fund at 1.5 billion euros. Barings European Private Loan Fund II's investors include public and private pensions, insurance companies, family offices and fund-of-funds from Asia Pacific, Europe and North America. BEPLF II will invest primarily in European private senior secured corporate loans.
3 min read · 07 August 2019
LBC Credit Partners has increased its credit facility to support Albireo Energy's acquisition of Alabama Controls, a provider of building automation and HVAC control solutions as well as equipment and parts sales. No financial terms were disclosed. Albireo Energy is backed by Huron Capital.
2 min read · 06 August 2019
