Exclusive: Olympus Partners Buying Into Churchill Financial
Mid-market lender Churchill Financial is about to get a new sponsor, peHUB has learned. Olympus Partners has signed an agreement to buy an equity stake in the group from current majority owner Irving Place Capital, which currently holds around a 70% position. Olympus also would partially repay existing Churchill lenders. Expect a significant haircut on the equity (which will include an earn-out that basically doubles the initial payment), and a lighter discount on the debt. There also is the possibility of Olympus pumping
4 May 2010•1 min read
