The Antares Bain Capital Complete Financing Solution, a joint venture between Antares and Bain Capital Credit, has provided a credit facility to support Bertram Capital‘s acquisition of Charlotte, North Carolina-based Flow Control Group, a specialty flow control and fluid handling distribution platform. No financial terms were disclosed.
CHICAGO & BOSTON–(BUSINESS WIRE)–The Antares Bain Capital Complete Financing Solution (ABCS), a joint venture between Antares and Bain Capital Credit, today announced the closing of a senior secured unitranche credit facility to support the acquisition of Flow Control Group by Bertram Capital (“Bertram”).
Founded in 2014, Flow Control Group is one of the largest independent specialty flow control and fluid handling distribution platform in North America, servicing more than 10,000 customers and 2,000 suppliers. With 47 locations across the U.S. and Canada, Flow Control Group is well-positioned to serve the evolving needs of a market driven by technical sales and service relationships between distributors and customers, both nationally and locally.
“We appreciated the flexibility of the Antares and Bain Capital unitranche solution and their ability to commit to the full facility we required,” said Kevin Yamashita, partner at Bertram Capital. “Overall the process was straightforward and very efficient allowing us to close in a timely manner.”
“We were pleased to continue our support of Bertram and their investment in Flow Control Group,” said Mary Gaede, managing director of Antares Capital. “Flow Control Group has a great partner in Bertram. Together they have the resources and expertise to continue executing on both organic and buy-and-build growth strategies.”
“We are pleased that Bertram found ABCS to be the right fit for their needs,” said Michael Ewald, a managing director at Bain Capital Credit. “Creating value for sponsors and borrowers while executing with precision is the goal of this joint unitranche offering.”
ABCS provides private equity sponsors and borrowers with access to first lien unitranche loans of up to $350 million in a single transaction. Without the requirement of agency meetings or a syndication process, the Antares and Bain Capital unitranche offering delivers capital with speed and certainty. ABCS closed on approximately $1.5 billion of new commitments in 2018, bringing total ABCS program commitments to more than $2.5 billion.
With approximately $24 billion of capital under management and administration as of December 31, 2018, Antares is a private debt credit manager and leading provider of financing solutions for middle-market private equity-backed transactions. In 2018, Antares issued nearly $25 billion in financing commitments to borrowers through its robust suite of products including first lien revolvers, term loans and delayed draw term loans, 2nd lien term loans, unitranche facilities and equity investments. Antares world-class capital markets experts hold relationships with over 400 banks and institutional investors allowing the firm to structure, distribute and trade syndicated loans on behalf of its customers. Since its founding in 1996, Antares has been recognized by industry organizations as a leading provider of middle market private debt, most recently being named the 2018 Lender of the Year by ACG New York. The company maintains offices in Atlanta, Chicago, Los Angeles, New York, Norwalk, CT and Toronto. Visit Antares at www.antares.com or follow the company on Twitter at www.twitter.com/antarescapital. Antares Capital is a subsidiary of Antares Holdings LP., collectively (“Antares”).
About Bain Capital Credit
Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $41 billion in assets under management. Bain Capital Credit invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities. Our team of more than 200 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus. Bain Capital Credit’s dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $100 million located in North America, Europe and Asia Pacific. Our dedicated global team affords us the ability to diligence the most complex situations and provide private capital to those companies.