Deals
FS Investments’ business development company (BDC) direct lending platform committed approximately USD988 million in senior secured loans and other debt and equity financing to middle market companies in the third quarter of 2016, bringing its year-to-date total originations to more than USD2.2 billion.
New directly originated investments during the quarter were made in support of nine portfolio companies headquartered in seven US states.
“Our ability to customise financing solutions to a company’s specific needs delivers a unique value to those businesses and, ultimately, our investors,” says Michael C Forman, chairman and chief executive officer of FS Investments. “In several
Monroe Capital has acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support private equity sponsor Tower Arch Capital’s recapitalisation of Corbett Technology Solutions (CTSI) in partnership with its management team.
Headquartered in Chantilly, Virginia, CTSI is an integrator of high-impact communications solutions throughout the Mid-Atlantic region.
CTSI designs, installs, and maintains complex audio-visual, sound, safety, healthcare, and education communications technology solutions for clients across multiple end-markets, including corporate, government, healthcare, education, senior living, multi-family residential, and houses of worship.
KKR has closed two direct lending transactions which will provide financing for Roompot, an operator of holiday parks, and Exterion Media, an outdoor advertising company in the UK and Europe.
The two transactions will deliver over USD275 million in financing and add to the track record of KKR’s European direct lending platform which provides funding for medium-sized companies across Europe in need of customized funding solutions beyond traditional bank lending.
Since 2014, the platform has deployed more than USD1 billion across companies in the UK, Ireland, Germany, Spain, Portugal and the Benelux and sectors including industrials, consumer, retail and
CVC Credit Partners and the EQT Mid-Market Credit Fund’s European Private Debt businesses have jointly provided a GBP110 million unitranche facility to Paymentsense.
As Europe’s largest merchant services provider, Paymentsense specialises in providing fast, affordable and reliable card processing services to over 50,000 small and medium-sized businesses processing GBP5bn of transactions per annum.
Chris Fowler, managing director in CVC Credit Partners’ direct lending business, says: “UK businesses are constantly looking for alternative ways to financially support their growth plans, and now so more than ever. Paymentsense is a very exciting company, with a differentiated business model, an entrepreneurial management
The online investment platform, SyndicateRoom, which allows individuals to invest alongside the professionals, has published its study ‘Rise of the Growth Hunters’.
Seed-stage investment company ZEAL Investments has partnered with MassChallenge UK, a start-up accelerator.
The partnership gives ZEAL Investments the opportunity to plug itself into the vast array of start-up companies involved in MassChallenge’s accelerator programme.
James Oakes, director of ZEAL Investments, says: “With only 5 per cent of the USD250 billion lottery market currently played online, there is a huge opportunity for the industry to fully digitise and become a relevant part of peoples’ online and mobile lives.”
Christine Thoma, head of strategy at ZEAL Investments, added: “Our partnership with MassChallenge UK will help us to identify start-ups
Hatteras Funds, a provider of alternative investment solutions for financial advisers and their clients, has agreed a sub-advisory relationship with Adams Street Partners, a global private markets investment firm.
Through multiple sub-advisory relationships, Hatteras Funds intends to provide financial advisers access to a series of evergreen private investments strategies. Hatteras Funds selected Adams Street Partners as the private equity sub-adviser because of its long history of experience and expertise.
“Our sub-advisory relationship with Adams Street gives us much-needed access to return enhancing strategies in today’s otherwise low growth environment,” says Michael Hennen (pictured), head of investment management at Hatteras
Barings has acted as mandated lead arranger of a senior secured credit facility to support Battery Ventures' acquisition of Michell Instruments Group.
UK-based Michell Instruments Group is a leader in high-precision sensing instrumentation market with over 40 years' experience in the field, specialising in measurement of dew point and relative humidity, as well as oxygen analysis. The company serves a diverse range of industries including compressed air equipment, natural gas transmission, power generation, pharmaceuticals and food processing.
"Battery Ventures is pleased to partner with Barings' European private finance group on our investment in Michell Instruments Group," says Jesse Feldman,
Private equity fund manager YFM Equity Partners, alongside private co-investors, has backed the management buyout (MBO) of Ferrabyrne.
YFM's funding includes the second investment from its new YFMEP 2016 Fund, which held a first close in June.
Ferrabyrne designs, develops, manufactures and services systems and components, including rubber and metal for global customers in the rail, commercial vehicle and energy generation industries. Its key products include suspension components for passenger and freight rail vehicles and heavy-duty trucks, as well as components for wind turbines.
Ferrabyrne has 73 employees working at its headquarters in Littlehampton and across the globe.
REG Power Management has signed an asset management contract with BlackRock for the recently constructed 18MW Batsworthy Cross Wind Farm in Devon, England.
Batsworthy Cross joins the 26MW Glens of Foudland wind farm acquired by BlackRock from Centrica earlier this year.
Last month BlackRock also appointed REG as the asset manager for four solar projects totalling circa 63MWp, adding to five existing ground-mounted solar PV assets under management by REG for BlackRock funds.
REG Asset Management now has around 20 wind and 14 solar projects under management across the UK, taking the total managed capacity to nearly 260MW.
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