News Briefs

Stellus backs Blue Sage’s buyout of Baker Manufacturing

Baker is a maker of water well equipment and accessories for residential, industrial, municipal, and environmental end-markets.

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  • Stellus was founded in 2012 and formed in conjunction with the spin-out of the direct capital unit of the D. E. Shaw Group
  • Since 2004, the Stellus team has deployed approximately $8 billion into more than 300 middle market companies
  • Stellus currently has about $2.6 billion in assets under management

Stellus Capital Management, a middle-market direct leander, has provided senior debt financing and an equity co-investment to support Blue Sage Capital’s acquisition of Baker Manufacturing Company. No financial terms were disclosed.

Founded in 1873 and headquartered in Evansville, Wisconsin, Baker is a manufacturer of water well equipment and accessories for residential, industrial, municipal, and environmental end-markets.

On the financing, Jonathan Pearce, a partner at Blue Sage, said in a statement: “We appreciate Stellus’ thoughtfulness in providing a flexible financing structure enabling us to grow the Baker business. We look forward to a strong partnership with Stellus going forward.”

Stellus was founded in 2012 and formed in conjunction with the spin-out of the direct capital unit of the D. E. Shaw Group. Stellus’ senior team helped create the direct capital unit in 2004 and has been investing together in the middle market for 18 years. Since 2004, the Stellus team has deployed approximately $8 billion into more than 300 middle market companies. Stellus currently has approximately $2.6 billion in assets under management.