CHICAGO/BOSTON, August 7, 2018 — The Antares Bain Capital Complete Financing Solution (“ABCS”), a joint venture between Antares Capital LP and Bain Capital Credit, LP, today announced that it closed four unitranche transactions in July with new and existing borrowers totaling $794 million in credit facilities.
Launched in December 2017, ABCS brings together Antares’ leadership position and expertise in supporting the financing needs of middle market private equity sponsors and borrowers with Bain Capital’s 20-year track record of investing in middle market private debt. ABCS provides private equity sponsors and borrowers with access to first lien unitranche loans of up to $350 million in a single transaction. Without the requirement of agency meetings or a syndication process, ABCS delivers capital with speed and certainty.
Select ABCS unitranche transactions closed in July include:
Abracon /The Riverside Company
Antares and Bain Capital Credit, together with the ABCS program, served as joint lead arrangers on a $139 million senior secured credit facility to support the acquisition of Abracon by The Riverside Company. Abracon is a leading global manufacturer of passive and electromechanical timing, synchronization, power, connectivity and RF solutions.
“We appreciate the hard work and support from Antares and Bain Capital,” said Anne Hayes, partner, Capital Markets for The Riverside Company. “They quickly delivered on our expectations of a seamless and simple financing.”
AmSpec / Olympus Partners
Antares and Bain Capital Credit, together with the ABCS program, served as joint lead arrangers on a $325 million senior secured credit facility for AmSpec, an Olympus Partners portfolio company. AmSpec is a leading provider of testing, inspection, and certification services for petroleum traders and refiners.
Home Franchise Concepts (“HFC”) / Trilantic North America
Antares and Bain Capital Credit, together with the ABCS program, served as joint lead arrangers on a $140 million senior secured credit facility for HFC, a Trilantic North America portfolio company. The funds were used to recapitalize the business and provide a more flexible capital structure that allows for continued investment to support both organic growth and potential acquisitions. HFC is a leading franchisor in the home services category and parent company to franchise brands Budget Blinds®, Tailored Living® and Concrete Craft™.
“We value the flexibility and ease of use Antares and Bain Capital provided through ABCS,” said Ted Rosenwasser, Principal for Trilantic North America.
About Olympus Partners
Founded in 1988, Olympus Partners is a private equity firm focused on providing equity capital for middle market management buyouts and for companies needing capital for expansion. Olympus is an active, long-term investor across a broad range of industries, including restaurants, consumer products, healthcare services, financial services and business services. For more information, visit www.olympuspartners.com/.
About The Riverside Company
The Riverside Company is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 520 transactions. The firm's international portfolio includes more than 75 companies. For more information, visit www.riversidecompany.com/.
About Trilantic North America
Trilantic Capital Management L.P. (“Trilantic North America”) is a leading private equity firm focused on control and significant minority investments in North America. Trilantic North America’s primary investment focus is in the business services, consumer, and energy sectors. Trilantic North America currently manages six private equity fund families with aggregate capital commitments of over $8 billion. For more information, visit www.trilantic.com.
With more than $20 billion of capital under management and administration, Antares Capital is a private debt credit manager and leading provider of financing solutions for middle-market private equity-backed transactions. In 2017, Antares issued over $21 billion in financing commitments to borrowers through its robust suite of products including first lien revolvers, term loans and delayed draw term loans, 2nd lien term loans, unitranche facilities and equity investments. Antares world-class capital markets experts hold relationships with over 400 banks and institutional investors allowing the firm to structure, distribute and trade syndicated loans on behalf of its customers. Since its founding in 1996, Antares has been recognized by industry organizations as a leading provider of middle market private debt, most recently being named the 2017 Lender of the Year by ACG New York. The company maintains offices in Atlanta, Chicago, Los Angeles, New York, Norwalk, CT and Toronto. Visit Antares at www.antares.com or follow the company on Twitter at www.twitter.com/antarescapital. Antares Capital is a subsidiary of Antares Holdings LP.
About Bain Capital Credit
Bain Capital Credit (www.baincapitalcredit.com), founded as Sankaty Advisors in 1998, is a leading global credit specialist with approximately $37 billion in assets under management. Bain Capital Credit invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities. Our team of more than 200 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus. Bain Capital Credit's dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $100 million located in North America, Europe and Asia Pacific. Our dedicated global team affords us the ability to diligence the most complex situations and provide private capital to those companies.