Babson Capital Management said Thursday that it provided subordinated debt as part of Filtration Group’s buy of Clear Edge Filtration. No financial terms were disclosed. PNC Erieview Capital and Phoenix Life Insurance also supported the subordinated debt financing. Based in Tulsa, Oklahoma, Clear Edge Filtration is a provider of industrial filtration solutions. Filtration Group is a portfolio company of Madison Capital Partners.
SPRINGFIELD, Mass. (July 25, 2013) – Babson Capital Management LLC, a global investment management firm with more than $182 billion in assets under management and operations on four continents, announced today that it provided subordinated debt to support the acquisition of Clear Edge Filtration, an add-on investment for Madison Capital Partners’ portfolio company Filtration Group.
Babson Capital was the lead provider of subordinated debt on this transaction. PNC Erieview Capital and Phoenix Life Insurance participated in the subordinated debt investment.
Tulsa, Okla.-based Clear Edge Filtration is a designer and manufacturer of a diverse range of filtration products for the mining, minerals, chemical, wastewater treatment and food and beverage industries. With 17 production and fabrication facilities in 12 countries, Clear Edge has established a strong market position globally with its reputation for providing high quality and customized solutions to meet its customers’ needs.
“Madison is delighted to work together again with Babson Capital on the addition of Clear Edge to the Filtration Group family of companies,” said Larry W. Gies, founder, President and CEO of Madison. “Babson Capital’s experience and expertise in the middle market and its shared commitment to client service have made it a valued partner to Madison for more than a decade.”
“Babson Capital is excited to continue our 11-year relationship with Madison through our participation in the Clear Edge transaction,” said Michael L. Klofas, Managing Director and Head of the U.S. Mezzanine & Private Equity Group for Babson Capital. “As a partner in the investment that led to the formation of Filtration Group, Babson Capital has been pleased with sales growth and improvements in operating efficiency to date, and we believe the addition of Clear Edge is a significant next step in Filtration Group’s strategy of creating a global filtration leader.”
About Madison Capital Partners
Madison Capital Partners, a Chicago-based investment group, acquires and grows branded market leaders. Founded in 1994, Madison builds each and every business as if it will own it forever; investing in the best people, technologies and strategies to grow truly unique organizations that deliver outstanding customer value.
About Babson Capital Management LLC
Babson Capital Management LLC and its subsidiaries serve institutional investors around the globe and have $182.9 billion in assets under management as of June 30, 2013. Through proprietary research, analysis and a focus on investment fundamentals, we develop products and strategies that leverage our broad expertise in fixed income, equities, alternatives, structured products, debt financing for corporations and debt and equity financing for commercial real estate. Based in Boston and Springfield, Mass., and Charlotte, N.C., with offices in New York City and Los Angeles, the firm’s subsidiaries include Babson Capital Europe Limited in London, Babson Capital Australia Pty Ltd in Sydney, Cornerstone Real Estate Advisers LLC in Hartford, Conn., and Wood Creek Capital Management, LLC in New Haven, Conn. Babson Capital is a member of the MassMutual Financial Group.