Antares Capital is serving as administrative agent, joint lead arranger and joint bookrunner on a USD198 million senior secured credit facility to support the acquisition of Interstate Hotels & Resorts by Kohlberg & Company (Kohlberg).
Interstate, headquartered in Arlington, Virginia, employs more than 30,000 highly skilled individuals worldwide and oversees operations at 425 properties located in 40 states and the District of Columbia, as well as nine countries outside of the United States. Interstate is the leading player in its rapidly growing segment of the hospitality industry, which includes services to hotels, resorts and conference centres.
“The team at Antares has been a long-time partner of Kohlberg, and we appreciate the creative and thoughtful approach the Antares team took in structuring the debt financing for the Interstate transaction,” says Ahmed I Wahla, partner with Kohlberg & Company. “Antares and our other lending partners provide Interstate with a long-term, flexible capital structure that will allow the company to continue to aggressively pursue its growth initiatives.”
“As always, we’re pleased to support Kohlberg in their latest investment,” says Chet Zara, senior managing director with Antares Capital. “Interstate is a strong brand with a diverse portfolio of contracts and world class operations. We look forward to working closely with Kohlberg and the Interstate team as they pursue continued growth for the business.”
