Varagon Capital Partners has provided a credit facility to back Sentinel Capital Partners‘ recapitalization of West Chester, Pennsylvania-based New Era Technology, which provides IT services like collaboration, data networking and security. No financial terms were disclosed.
New York, NY, September 27, 2019 – Varagon Capital Partners (Varagon) today announced it is serving as Administrative Agent on a senior secured credit facility to support the recapitalization of New Era Technology by Sentinel Capital Partners (Sentinel).
Founded in 2013 and headquartered in West Chester, PA, New Era Technology is a global IT solutions provider that installs and maintains the IT, networking, connectivity and data requirements of companies.
“We are excited to partner with Sentinel in its recapitalization of New Era Technology, said Matthew Cutri, Managing Director for Varagon. We look forward to supporting management and Sentinel as they continue to grow the business.”
About Sentinel Capital Partners
Sentinel specializes in buying and building businesses in the lower midmarket in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of up to $65 million. Sentinel also invests in special situations, including balance sheet restructurings and operational turnarounds. For more information about Sentinel, visit www.sentinelpartners.com.
About Varagon Capital Partners
Varagon is a leading lender to middle market companies and private equity firms. Varagon invests across the capital structure and delivers flexible financing solutions that meet the needs of our private equity partners. Since inception, Varagon has made over $11.0 billion of investment commitments to over 140 middle market companies. For more information about Varagon, visit www.varagon.com.