Varagon backs Astar Heating and Air’s acquisition of Sila Heating & Air Conditioning

Varagon Capital Partners has provided a credit facility to back Astar Heating and Air LLC's acquisition of Pennsylvania-based Sila Heating & Air Conditioning.

Varagon Capital Partners has provided a credit facility to back Astar Heating and Air LLC’s acquisition of Pennsylvania-based Sila Heating & Air Conditioning, a provider of HVAC, air quality and home automation systems and services. No financial terms were disclosed. Astar Heating and Air is a portfolio company of Dubin Clark. Varagon Capital Partners served as administrative agent, joint lead arranger and joint bookrunner on the financing.

PRESS RELEASE

New York, NY, September 1, 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 Sila Heating & Air Conditioning, Inc. by Astar Heating and Air, LLC, a Dubin Clark portfolio company.

Astar Heating and Air, LLC was founded in 1976 and is headquartered in Middletown, NY. Sila Heating & Air Conditioning, Inc. was founded in 1989 and is headquartered in King of Prussia, PA. The combined entity provides a wide range of HVAC services in the Northeast including replacement, service, and maintenance, as well as plumbing and water treatment services.

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