Varagon backs Alvarez & Marsal’s buyout of BrightPet

Varagon Capital Partners has provided a credit facility to back Alvarez & Marsal Capital Partners' acquisition of BrightPet Nutrition Group, a maker of pet food and treats.

Varagon Capital Partners has provided a credit facility to back Alvarez & Marsal Capital Partners’ acquisition of BrightPet Nutrition Group, a maker of pet food and treats. No financial terms were disclosed. Varagon is serving as administrative agent, joint lead arranger and joint bookrunner on the financing.

PRESS RELEASE

New York, NY, October 9, 2020 – Varagon Capital Partners (Varagon) today announced it is serving as Administrative Agent, Joint Lead Arranger and Joint Bookrunner on a senior secured credit facility to support the acquisition of BrightPet Nutrition Group by Alvarez & Marsal Capital Partners.

BrightPet Nutrition Group was founded in 1962 by the Golladay family of Ohio. BrightPet develops and manufactures co-pack, private label and branded premium and super premium pet food and treats. The company operates three complementary businesses — outsourced kibble manufacturing, outsourced treat manufacturing and a portfolio of company-owned premium pet food and treat brands, which include Blackwood®, Adirondack® and By Nature®.

About Varagon Capital Partners
Varagon Capital Partners is an asset manager focused on direct lending to middle market companies. Varagon invests across the capital structure and offers flexible financing solutions to meet the needs of borrowers and private equity sponsors. Varagon manages funds and accounts on behalf of institutional investors that seek exposure to high-quality, directly-originated middle market loans. As of December 31, 2019, Varagon had made over $14.7 billion of financing commitments to over 180 companies.
For more information about Varagon, visit www.varagon.com.