Olympus Partners, a Connecticut-based private equity firm, has acquired Churchill Financial, a middle market focused commercial finance company, through its affiliate Olympus Growth Fund V.
Olympus has agreed to refinance existing indebtedness and invest additional capital to support the growth of Churchill’s core middle market lending business.
“Churchill is an excellent addition to our financial services portfolio,” says Rob Morris (pictured), managing partner of Olympus Partners. “We expect further opportunities in the wake of the consolidation prompted by the recent recession.”
“We have been looking for an opportunity to invest in the middle market senior lending area for some time, especially given the attractive market dynamics we see daily in our middle market private equity investment activities, including a severe contraction in the number of senior lenders over the past two years,” adds Paul Rubin, partner of Olympus Partners. “With Churchill, we believe we have found the ideal platform – a first class, highly regarded senior management team, a solid and proven origination and underwriting team, an excellent credit track record in the middle market senior lending space and significant long-term committed financing. Churchill meets all of the criteria we believe are required to make a successful investment in this area.”