Babson Capital Management said it agented senior secured credit facilities in support of Gryphon Investors‘ majority investment in The Original Cakerie, a Canadian frozen dessert manufacturer. No financial terms were released. Gryphon, a U.S. private equity firm, announced the deal in November. Babson led a syndication of the senior credit facility, which it said was nearly two times oversubscribed.
Babson Capital Management Agents Senior Secured Credit Facilities for Gryphon’s Investment in The Original Cakerie
CHARLOTTE, N.C., Dec. 21, 2015 /PRNewswire/ — Babson Capital Management, one of the world’s leading asset management firms with more than $223 billion in assets under management, today announced it agented senior secured credit facilities to support Gryphon Investors’ majority investment in The Original Cakerie.
Babson served as sole lead arranger and administrative agent on the transaction, which included a revolving credit facility and a term loan facility. Babson led a successful syndication of the senior credit facility, which was nearly two times oversubscribed.
Founded in 1979 and based in Delta, British Columbia, Canada, The Original Cakerie is a leading manufacturer of high-quality frozen desserts for retail and foodservice customers across North America.
“The Babson team again earned its reputation for being a reliable financing partner with the capacity to provide surety to close even on a strict timetable,” said Matt Farron, a principal at Gryphon Investors. “Gryphon Investors appreciates Babson’s partnership on the investment in The Original Cakerie and we look forward to working with Babson again soon.”
“Babson is excited about the opportunity to partner with Gryphon Investors on the Canadian platform,” said Brian Baldwin, Managing Director in Babson’s North American Private Finance Group. “We believe Gryphon Investors’ food industry expertise will prove valuable in helping The Original Cakerie grow its business organically and through acquisition, and we look forward to supporting the company in this growth strategy.”
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity (“PE”) firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. For numerous consecutive quarters and years, Gryphon has been ranked in Preqin’s prestigious quarterly PE report as one of North America’s top-decile firms based on consistency of strong investment returns. With approximately $1.8 billion of cumulative equity commitments, the firm has an extensive track record of leading equity investments of $35 million to $150 million per portfolio company with sales ranging from approximately $50 million to $500 million. Gryphon prioritizes investment opportunities where it can form proactive partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.
About Babson Capital Management
Babson Capital Management LLC is a leading global asset management firm with over $223 billion in assets under management as of September 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 31 countries. Learn more at www.babsoncapital.com
Brian Whelan, Babson Capital Management, 704.805.7244, email@example.com
Barry Finkelstein, Luquire George Andrews, 704.552.6565, firstname.lastname@example.org
Photo courtesy of The Original Cakerie