Babson Capital Management has provided a senior credit facility to support Kohlberg & Company‘s buy of PPC Industries. No financial terms were disclosed. Based in Pleasant Prarie, Wisconsin, PPC Industries is a provider of specialty plastic solutions for medical/pharmaceutical, food processing, and niche industrial applications.
CHARLOTTE, N.C., Dec. 16, 2014 /PRNewswire/ — Babson Capital Management, a leading global asset management firm with more than $206 billion in assets under management, today announced it provided a senior secured credit facility to support the acquisition of PPC Industries Inc. by affiliates of Kohlberg & Company, L.L.C.
PPC Industries, based in Pleasant Prairie, Wis., is a leading provider of highly engineered consumable specialty plastics for mission-critical applications in niche segments of the medical/pharmaceutical, food and industrial markets.
“Babson places great value on our longtime association with Kohlberg & Company, and we are grateful for the opportunity to partner with Kohlberg on the investment in PPC Industries,” said Ian Fowler, Managing Director and co-head of Babson’s U.S. Private Finance Group. “As an existing lender, we have been pleased with the company’s growth and performance and we look forward to continuing to support PPC Industries as it partners with Kohlberg & Company.”
Babson was an existing lender to PPC Industries through a 2006 investment via its Mezzanine & Private Equity Group.
About PPC Industries, Inc.
PPC Industries, Inc. is a manufacturer of specialty plastic solutions for medical/pharmaceutical, food processing, and niche industrial applications. PPC operates manufacturing facilities in the United States, Costa Rica, Malaysia and Ireland. For further information on PPC and its various products, please visit www.ppcind.com or www.kelpacmedical.com.
About Kohlberg & Company
Kohlberg & Company, L.L.C. (“Kohlberg”) is a leading U.S. private equity firm headquartered in Mount Kisco, New York. Since its inception in 1987, Kohlberg has completed 63 platform investments and more than 100 add-on acquisitions, with an aggregate transaction value of over $9 billion. Kohlberg has invested over $3 billion during its history and is currently investing its seventh private equity fund, Kohlberg Investors VII. For more information, visit www.kohlberg.com
About Babson Capital Management
Babson Capital Management LLC (Babson) is a leading global asset management firm with over $206 billion in assets under management as of September 30, 2014. 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