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Adams Street’s Private Credit Team provides financing for Permira’s buyout of Jayhawk Fine Chemicals

Adams Street Partners, a private markets investment management firm with USD35 billion of assets under management, has provided a senior secured term loan and a revolving credit facility to Permira, the global private equity firm, for its acquisition of Jayhawk Fine Chemicals (Jayhawk).

Adams Street served as sole lead arranger and administrative agent for the transaction.
 
Jayhawk, based in Galena, Kansas, is one of the leading fine chemicals companies in the US. The company is a custom manufacturer of specialty chemicals used in various end markets, including pharmaceutical, animal health, agriculture, and consumer electronics. It provides outsourced manufacturing solutions to its customers and is also the sole global provider of its flagship product, BTDA, a highly engineered chemical used in applications that require product resistance to high temperature, pressure, and corrosive environments.
 
“As a long-term financing partner, we are pleased to support Permira in its acquisition of Jayhawk Fine Chemicals,” says Bill Sacher, Partner and Head of Private Credit at Adams Street Partners. “It was a pleasure to work closely with the Permira team on this transaction, and have conviction in their vision for Jayhawk’s business growth and geographic expansion.”
 
The credit facility marks the third financing solution the Adams Street Private Credit Team has arranged for Permira. In September, Adams Street provided financing to Permira’s portfolio company, Mutant, to support its R&D and accretive M&A strategy. In addition, the team closed on the acquisition of Lyophilization Services of New England, Inc (LSNE) in March 2017.
 
“We greatly appreciate the continued support from Adams Street’s Private Credit Team,” says Simon Roggentin, a member of the Permira Financing Group. “We are delighted to have a close relationship with a responsive and reliable lending partner with the proven capability to create truly customised and comprehensive financing solutions, not only for our acquisition of Jayhawk, but for previous transactions as well.”

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