Barings has served as joint lead arranger and administrative agent on first lien senior secured credit facilities to support Genstar Capital’s investment in Professional Datasolutions Inc (PDI) and strategic partnership with TA Associates.
Ares Capital Corporation served as joint lead arranger and administrative agent on the second lien credit facilities.
PDI is a specialist in providing enterprise resource planning (ERP) software and services that help multi-unit convenience stores and gas stations enhance operating efficiency through retail automation, bulk fuel automation, business intelligence, financial reporting and workforce management. The company’s retail and petroleum customers operate more than 50,000 sites around the world.
Barings served as agent on TA Associates’ initial investment in PDI in May 2016 and led follow-on financings for six strategic acquisitions that have more than doubled PDI’s customer base and increased its global footprint by more than 60 per cent.
“Barings has played a strong supporting role on previous transactions and Genstar is pleased to collaborate again on our investment in PDI,” says Eli Weiss, managing director for Genstar Capital. “The team’s ability to provide customised, reliable and flexible financing and to fund a credit facility of this size made it an invaluable partner in structuring a solution that will meet PDI’s growth needs.”
“Barings is excited to partner with Genstar on this investment and continue supporting the growth of PDI,” says Brian C Baldwin, managing director in Barings Global Private Finance Group. “The acquisitions completed since our initial investment alongside TA Associates have transformed PDI into a global market leader with expanded capabilities in the fuel wholesale software market, and we are confident Genstar’s expertise will serve the company well as it continues to accelerate growth organically and through strategic acquisitions.”
With over 600 investment professionals, including more than 70 dedicated solely to private finance, Barings leverages its global presence and local expertise to source private credit investments in developed markets worldwide. This global sourcing network, coupled with a diverse portfolio of platform companies, provides Barings with ongoing opportunities to finance middle market transactions including new platform investments, add-on acquisitions and recapitalisations across the US, Europe and Asia.
