Churchill Asset Management has provided financing to back The Riverside Company‘s acquisition of Naturally Slim, a Dallas-based digital health platform focused on weight loss. No financial terms were disclosed. Churchill was the administrative agent and sole lead arranger on the credit facility.
New York, NY, May 28, 2019 – Churchill Asset Management (“Churchill”) today announced that it served as Administrative Agent and Sole Lead Arranger for a first lien credit facility to support the acquisition of Naturally Slim by The Riverside Company.
Founded in 1977 and based in Dallas, TX, Naturally Slim is a technology-based coaching solution for health and wellness with a specific focus on weight loss. The program is centered on the latest scientific understanding of nutrition and obesity.
“Naturally Slim is the leading program offered by employers and plan sponsors nationwide to combat obesity-related diseases,” said Randy Schwimmer, Senior Managing Director and Head of Origination & Capital Markets. “The company’s differentiated approach and multi-faceted digital delivery platform are difficult to match, and we look forward to partnering with The Riverside Company and the Naturally Slim team to support the company’s future growth.”
The Riverside Company is a longstanding partner of the Churchill platform, having reviewed and closed several deals together dating back to 2006. Founded in 1988, The Riverside Company is a global private equity firm with over $8 billion in assets under management, focused on growing businesses valued at up to $400 million.
“The combination of Churchill’s ability to speak for the entire first lien facility, flexible financing solution and industry expertise allowed us to complete this acquisition efficiently,” said Anne Hayes, Partner of Capital Markets at The Riverside Company adding, “We look forward to continuing our partnership with the Churchill team.”
About Churchill Asset Management
Based in New York, Churchill Asset Management LLC is a leading provider of senior and unitranche debt financing for middle market companies, particularly those backed by top-tier private equity sponsors. Churchill has $6.5 billion of committed capital under management and has broad experience in all aspects of the middle market financing business, including structuring, credit analysis, syndication, and deal monitoring and oversight. More information can be found at www.churchillam.com.
About Riverside Company
The Riverside Company is a global private equity firm focused on investing in growing businesses valued at up to $400 million. For over 30 years, Riverside has made more than 600 control and non-control investments. The firm’s international private equity and structured capital portfolios include more than 90 companies.