The Winston-Salem, N.C.-based middle-market firm BB&T Capital Partners has invested senior subordinated notes to support the recapitalization of Phoenix Children’s Academy by Audax Group. BB&T first invested in the company in 2008, providing it subordinated debt.
Headquartered in Scottsdale, AZ, Phoenix Children’s Academy is a national operator of preschool centers located in North America. With over 100 schools focused on the development and early education of children under five years old, Phoenix Children’s Academy is one of North America’s largest providers of early childcare education.
BB&T Capital Partners Mezzanine Fund II invested senior subordinated notes to support the recapitalization of Phoenix Children’s Academy by Audax Group. BB&T Capital Partners first invested in Phoenix Children’s Academy in 2008, providing subordinated debt to support a recapitalization of the Company.
For additional information on this transaction, please contact Brent Kulman at 336-733-0354 or BKulman@bbandt.com. For more information about Phoenix Children’s Academy, visit the Company’s website at http://www.phoenixchildrensacademy.com/.
BB&T Capital Partners manages over $725 million in committed capital across three fund strategies which are all focused on the middle market. We make direct equity investments in control transactions of privately-held companies; we provide subordinated debt or mezzanine capital in support of transactions led by financial sponsors and others; and we invest in other private equity funds. Since 1998, we have invested in over thirty-five privately-held, middle market companies in a variety of industries, providing patient capital to facilitate acquisition, growth and recapitalization transactions. Our investing strategy focuses on a partnership approach with a common goal of long-term value creation.