Babson Capital Management has provided undisclosed financing to back Falfurrias Capital Partners’ investment in GlynnDevins. Based in Overland, Kansas, GlynnDevis is a provider of marketing services to senior living and care communities in the U.S.
CHARLOTTE, N.C. (July 30, 2015) – Babson Capital Management, a global investment management firm with approximately $219 billion in assets under management, today announced it provided subordinated debt and made an equity co-investment to support Falfurrias Capital Partners’ investment in GlynnDevins, the leading provider of marketing services to senior living and care communities across the United States.
Founded in 1987, the Overland Park, Kansas, advertising and marketing agency provides a full range of marketing services, including market research, brand development, creative services, and media planning and buying. The firm currently works with more than 160 senior-living communities across 38 states, the majority of which have been agency clients for more than five years.
“As more and more baby boomers reach their golden years, GlynnDevins is exceptionally well positioned to capitalize on the expected growth in senior care facilities across the U.S.,” said Marc D. Oken, the former Bank of America CFO who co-founded Falfurrias Capital Partners with former Bank of America CEO Hugh McColl Jr. “We are excited to combine our expertise with GlynnDevins’ market leadership to leverage this opportunity, and we appreciate Babson’s role in helping make this partnership possible.”
“Babson has previously invested in several Falfurrias Capital funds, but this is our first direct investment in one of their transactions,” said Bob Shettle, Managing Director and Head of Babson’s U.S. Mezzanine & Private Equity Group. “Their methodical approach to selecting investment opportunities, coupled with their track record of operational excellence gives us confidence that this will be a successful venture.”
About Falfurrias Capital Partners
Falfurrias Capital Partners, founded by former Bank of America Chairman and CEO Hugh McColl, Jr. and former Bank of America Chief Financial Officer Marc D. Oken, is a Charlotte-based private equity investment firm focused on acquiring or investing in a diverse portfolio of middle-market companies. By leveraging the extensive strategic and operational experience and business relationships of the firm’s principals, Falfurrias Capital Partners is positioned to be a value-added partner for both its portfolio companies and its limited partners. For more information visit, www.falfurriascapital.com.
About Babson Capital Management
Babson Capital Management LLC (Babson) is a leading global asset management firm with approximately $219 billion in assets under management as of June 30, 2015. Through proprietary research, analysis and a focus on investment fundamentals, the firm and its global affiliates develop products and strategies that leverage its broad expertise in global fixed income, structured products, middle market finance, commercial real estate, alternatives and equities. A member of the MassMutual Financial Group, Babson maintains a strong global footprint with operations on four continents and clients in over 20 countries. Learn more at www.babsoncapital.com.
GlynnDevins is the nation’s leading marketing and advertising agency serving senior living communities and their development and management partners. Their extensive experience in senior living has given the agency the proficiency to create its own metrics-based planning and occupancy solutions. GlynnDevins designs marketing and communications programs proven to build a community’s lead base while supporting sales. For more information, visit www.glynndevins.com.