Shamrock Capital Advisors has secured a $190m private credit package to finance its acquisition of strategic communications consultancy Penta Group, with Churchill Asset Management leading the debt syndicate, according to a report by Bloomberg citing market sources.
The financing structure includes a $140m first-lien term loan, a $10m revolving credit facility, and a $40m delayed draw term loan, sources familiar with the matter said. PennantPark Investment also participated in the facility.
Pricing on the term loan is set at 450 basis points over the base rate, with a 1% floor. The margin is structured with leverage-based ratchets, tightening to 425bps if leverage falls below 4x EBITDA, and widening to 475bps if it exceeds 5x, according to the same sources.
The acquisition marks Shamrock’s latest investment in the media and communications sector and follows its purchase of Penta from Falfurrias Management Partners earlier this month. Penta Group provides advisory services across corporate strategy, research, and stakeholder engagement for public and private sector clients.
