Antares has provided a credit facility to back Kohlberg & Company’s buyout of Toledo, Ohio-based GPRS, a provider of advanced scanning services for subsurface infrastructure. No financial terms were disclosed.
CHICAGO–(BUSINESS WIRE)–Antares announced today that it served as lead left arranger and is acting as administrative agent on a senior secured credit facility to support the acquisition of GPRS Holdings (“GPRS”) by Kohlberg & Company (“Kohlberg”).
Founded in 2001 in Toledo, OH, GPRS is the nation’s largest provider of advanced scanning services for subsurface infrastructure. GPRS has an extensive nationwide network of 250+ highly trained and experienced project managers in every major U.S. market.
“We view Antares as a value-added partner which provided certain and scalable financing, important in the current market,” said Benjamin Mao, partner of Kohlberg. “Antares has provided GPRS with a flexible capital structure that will support the company in its execution of its long-term strategic plan.”
“As always, we’re pleased to support Kohlberg in their latest investment,” said Vince Di Grande, senior vice president with Antares Capital. “GPRS is a market leader with a strong value proposition for its clients and world class operations. We look forward to working closely with Kohlberg and the GPRS team as they pursue continued growth for the business.”
With approximately $27 billion of capital under management and administration as of December 31, 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.
The company maintains offices in Atlanta, Chicago, Los Angeles, New York and Toronto. Visit Antares at www.antares.com or follow the company on LinkedIn at http://www.linkedin.com/company/antares-capital-lp. Antares Capital LP is a subsidiary of Antares Holdings LP (collectively, “Antares”).