The Carlyle Group has led the debt financing to back The Jordan Company’s acquisition of Heartland Home Services, a residential HVAC, plumbing and electrical services company. No financial terms were disclosed. Carlyle’s middle market lending strategy, Carlyle Direct Lending, acted as administrative agent and joint lead arranger on the financing.
NEW YORK-Global investment firm The Carlyle Group (NASDAQ: CG) today announced that its Global Credit platform led and structured the debt financing package to support The Jordan Company’s acquisition of Heartland Home Services, a leading residential HVAC, plumbing and electrical services company.
Carlyle”s middle market lending strategy, Carlyle Direct Lending, acted as administrative agent and joint lead arranger on the financing. Carlyle’ss direct lending team focuses on making investments across the capital structure, primarily in private equity sponsor-backed companies, including senior secured loans, unitranche loans and junior debt. It seeks to benefit from proprietary investment opportunities originating from within Carlyle and the firm’s global resources and operating expertise.
David Richman, Managing Director of Carlyle Direct Lending, said, “We are pleased to invest in Heartland Homes Services with The Jordan Company and look forward to supporting Heartland’s continued growth and M&A program under The Jordan Company’s ownership.”
Headquartered in Macomb, Michigan, Heartland Home Services is the leading provider of non-discretionary, residential HVAC replacement and maintenance, plumbing and electrical services in the Midwest. The company currently maintains nine brands operating across five states. To learn more about Heartland Home Services, visit www.heartlandhomeservices.com.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $230 billion of assets under management as of September 30, 2020, Carlyleâ€™s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 30 offices across six continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.
Carlyle Global Credit is the credit investment arm of The Carlyle Group with approximately $53 billion of assets under management. The groupâ€™s investment strategies span the credit spectrum: liquid credit, illiquid credit and real assets credit. Since 1999, Carlyle Global Credit has provided creative solutions for borrowers and delivered attractive risk-adjusted returns for investors by drawing on the deep credit expertise and disciplined underwriting capabilities of our over 150 investment professionals and by leveraging the resources and industry expertise of Carlyleâ€™s global network.
About The Jordan Company
The Jordan Company, founded in 1982, is a middle-market private equity firm that manages funds with original capital commitments in excess of $13 billion with a 38-year track record of investing in and contributing to the growth of many businesses across a wide range of industries. The senior investment team has been investing together for over 20 years, and they are supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, TJC also has offices in Chicago. For more information, visit www.thejordancompany.com.