Capital Solutions Closes $112 Million Debt Financing for Acquisition of Sponsored Platform
The Capital Solutions Group (“Capital Solutions”) announces the closing of a $112 million first-lien debt financing for Sager Creek Acquisition Corp. (“Sager Creek”) to finance its acquisition of Allens, Inc. (“Allens”). Allens is a leading processor and distributor of canned vegetables based in Siloam Springs, Arkansas, and Sager Creek is owned by affiliates of Sankaty Advisors, LLC and GB Credit Partners LLC (collectively “Sankaty and GB Credit Partners”). Capital Solutions acted as Sager Creek’s exclusive advisor for the debt financing.
“Capital Solutions was engaged by Sankaty and GB Credit Partners to advise them on a first-lien financing to support their bid for Allens so that they could focus their time and attention to their bidding strategy and to the operations of the business,” commented Brad Stewart, Partner, who led the transaction for Capital Solutions. “Sankaty and GB Credit Partners had a very targeted engagement in mind for Capital Solutions to execute upon within a tight timeframe, and we were pleased to have successfully delivered on that mandate and that they were successful in their bid for Allens.”
James Athanasoulas of Sankaty Advisors LLC, added: “I have known Brad for a long time and am quite familiar with the expertise he brings to the table as a debt advisor, particularly in complex situations. Capital Solutions added value to our financing process and helped us execute on a tight timeline.”
About Sankaty Advisors, LLC: Sankaty Advisors is the independently-managed credit affiliate of Bain Capital, LLC and one of the world’s leading private managers of fixed income and credit instruments. Founded in 1998 and now managing more than $22 billion of assets, Sankaty has an integrated team of 200 people that enables the firm to invest up and down the capital structure, and to conduct rigorous, independent analysis of thousands of corporate issuers. Sankaty invests in a wide variety of securities and investments globally, including leveraged loans, high-yield bonds, distressed and stressed debt, mezzanine debt, structured products and equities. An employee-owned private partnership, the firm has offices in Boston, New York, Chicago, London, Luxembourg and Melbourne. For more information, please visit www.sankaty.com.
About GB Credit Partners LLC: GB Credit Partners LLC, the investment management affiliate of Gordon Brothers Group, employs proprietary and institutional capital to make investments in middle-market companies. For more information about GB Credit Partners, visit its website at: www.GBCredit.com.
About The Capital Solutions Group: We provide creative financial advisory services to closely-held Companies, Private Equity firms, and Lenders in the Middle Market. Our services include: Debt Capital Raising, Recapitalizations, Financial Restructurings, and selected M&A assignments. Since our founding in 2009, we have advised on over $1.2 billion of debt issuance, financial restructuring, and strategic advisory assignments; these transactions have been executed primarily for private equity sponsored companies.
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