The Antares Bain Capital Complete Financing Solution provided a $355 million senior credit facility to support Wendel’s acquisition of Crisis Prevention Institute Inc. Milwaukee-based CPI is a provider of behavior management and crisis prevention training programs. ABCS is a joint venture between Antares and Bain Capital Credit, and Macquarie Capital Principal Finance’s Direct Lending business.
CHICAGO AND BOSTON — January 9, 2020 — The Antares Bain Capital Complete Financing Solution (“ABCS”), a joint venture between Antares and Bain Capital Credit, and Macquarie Capital Principal Finance’s Direct Lending business, today announced the closing of a $355 million senior secured unitranche credit facility in acquisition financing to Crisis Prevention Institute, Inc. (“CPI”) to support its acquisition by Wendel (MF.FP) on December 23, 2019. Antares, Bain Capital Credit, and Macquarie Capital Principal Finance served as joint lead arrangers on the facility.
Headquartered in Milwaukee, Wisconsin, CPI is a leading provider of behavior management and crisis prevention training programs. For nearly 40 years, CPI has been providing crisis prevention and intervention training programs to help professionals respond to anxious, hostile and violent behaviors with safe and effective methods. The Company primarily serves education and healthcare customers in the U.S. and is expanding its reach in behavioral and home health care, as well as other industries with similar behavioral encounters, including retail and security services.
“The speed and flexibility of the ABCS offering coupled with Antares’ long-term relationship with CPI, along with Macquarie Capital Principal Finance’s nimbleness and meaningful commitment, made this an optimal financing solution for CPI,” said Adam Reinmann, CEO at Wendel North America.
“CPI has been part of the Antares portfolio since 2011 and, during that time, we’ve been impressed by both the value they drive for customers and their capable management team,” said Jason Quinn, vice president at Antares. “We’re pleased the ABCS unitranche product met CPI’s needs and we’re confident that CPI and Wendel have a great opportunity ahead.”
“We are proud to support CPI’s mission to train people and give them the coping skills they need to deal with challenging encounters,” said Olof Bergqvist, a managing director at Bain Capital Credit. “Our financing solution will expand these programs and enhance care and safety in even more settings that have a demonstrated need.”
ABCS provides borrowers and private equity sponsors 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 Credit unitranche offering delivers capital with speed and certainty.
“Macquarie Capital Principal Finance is pleased to support the acquisition of CPI by Wendel,” said Bill Eckmann, a senior managing director and head of the U.S. Direct Lending business for Macquarie Capital Principal Finance. Macquarie Capital’s Principal Finance Direct Lending business provides customized financing solutions including one-stop unitranche financings, senior and stretch senior loans, and secured junior debt, supporting both sponsored and non-sponsored middle market businesses.
With approximately $25+ billion of capital under management and administration as of June 30, 2019, 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 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.
About Macquarie Capital Principal Finance
Macquarie Capital is the advisory, capital markets and principal investment arm of Macquarie Group. Macquarie Capital Principal Finance, the principal investment business, provides flexible primary financing and secondary market investing solutions for corporate and commercial real estate clients across North America, Europe and Australasia. Since inception in 2009, the business has invested $34 billion across more than 580 investments. For further information visit www.macquarie.com/us/corporate/financing/principal-finance.