Babson Capital Management has made an undisclosed investment to back Blue Point Capital Partners‘ acquisition of Handi Quilter Inc. Based in North Salt Lake, Utah, Handi Quilter is a maker of quilting machines for the consumer quilting market.
CHARLOTTE, N.C., March 30, 2015 /PRNewswire/ — Babson Capital Management, a leading global asset management firm with more than $212 billion in assets under management, today announced it provided subordinated debt and made an equity investment to support Blue Point Capital Partners’ acquisition of Handi Quilter Inc.
Founded in 1998 and based in North Salt Lake, Utah, Handi Quilter designs, manufactures and markets quilting machines for at-home quilting enthusiasts. The company is the industry leader for specialized at-home quilting machines, a market it effectively created in 2002 with its introduction of the first long-arm sewing machine designed specifically for consumers.
“Blue Point is delighted to partner with Babson on this investment, whose reputation for responsiveness and flexibility was well known to us from our work together on previous investments,” said Sean Ward, a partner with Blue Point. “We look forward to working with the Babson team on the Handi Quilter investment and hope to partner again on future investments.”
“Babson is pleased to support Blue Point Capital Partners on its investment in Handi Quilter,” said Mike Klofas, Managing Director and co-head of Babson’s U.S. Private Finance Group. “We are excited about Handi Quilter’s growth prospects as it works with Blue Point to leverage its leading market position and expand into new sales channels to capitalize on strong growth trends in the at-home quilting equipment market.”
About Blue Point Capital Partners
Blue Point Capital Partners (www.bluepointcapital.com) is a private equity firm managing over $800 million in committed capital. Leveraging offices in Charlotte, Cleveland, Seattle and Shanghai, Blue Point’s entrenched regional presence affords it the opportunity to establish relationships on a local and regional basis with entrepreneurs and their trusted advisors, while simultaneously providing the resources of a large, international firm. The Blue Point group has a 24-year track record of partnering with companies in the lower middle market where it can bring about accelerated growth and transformative change in partnership with its companies, their management teams and Blue Point’s network of operating resources. Blue Point is one of only a few middle-market private equity firms with a presence in the economies of both the United States and China, and the firm’s experience with cross-border management and value drivers provides a distinct advantage for its portfolio businesses. Blue Point invests in manufacturing, distribution and service businesses generating $20 million to $200 million in revenue.
About Babson Capital Management
Babson Capital Management LLC (Babson) is a leading global asset management firm with over $212 billion in assets under management as of Dec. 31, 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. Part 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.