Antares Bain Capital Complete Financing Solution has provided a credit facility to back AE Industrial Partners’ buyout of G.S. Precision. No financial terms were disclosed. Brattleboro, Vermont-based G.S. Precision Inc is a maker of complex, high precision components and specialty hardware used in aerospace and defense applications. Antares Bain Capital Complete Financing Solution is a joint venture between Antares and Bain Capital Credit.
CHICAGO AND BOSTON — March 16, 2020 — 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 G.S. Precision by AE Industrial Partners (“AEI”).
Founded in 1958 in Brattleboro, VT, G.S. Precision is a global leader in the manufacture of high-precision machined components and complex assemblies. While serving many industries, the company’s primary focus is supplying mission critical components for its aerospace customers, including those who manufacture aircraft engines, land and marine based turbines, commercial and military aircraft, inertial guidance systems, and infra-red optical devices.
“The speed and ease of execution inherent in the unitranche structure combined with the expertise of the Antares and Bain Capital team made ABCS an optimal financing solution for this investment,” said Charlie Compton, partner at AEI. “Not only did they deliver as promised, but they understood our needs and were flexible throughout the process.”
“Antares is pleased to support AEI on their investment in G.S. Precision,” said Kevin Fitzgerald, senior vice president with Antares. “As a market leader with a dedicated management team and track record for innovation, we look forward to G.S. Precision’s continued evolution as they work with AEI to execute on the company’s growth initiatives.”
“Our unitranche offering continues to provide the flexibility and ease of use that helps facilitate the certainty of transactions for sponsors and borrowers,” said Thomas Kolinski, a director at Bain Capital Credit. “We’re excited to help G.S. Precision grow their roster of aerospace clients to better compete in a rapidly growing and dynamic global marketplace.”
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.
With approximately $27 billion of capital under management and administration as of September 30, 2019, Antares is a private debt credit manager and leading provider of financing solutions for middle-market private equity-backed transactions. In 2019, Antares issued approximately $17 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 more than 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.