Barings Provides Financing to Support Genstar Capital Investment in Professional Datasolutions Inc.
(Thomson Reuters ONE) -
CHARLOTTE, N.C., Sept. 12, 2017 (GLOBE NEWSWIRE) -- Barings, one of the world's
leading asset management firms, announced that it served as joint lead arranger
and administrative agent on first lien senior secured credit facilities to
support Genstar Capital's investment in Professional Datasolutions Inc. ("PDI")
and strategic partnership with TA Associates. Ares Capital Corporation served as
joint lead arranger and administrative agent on the second lien credit
facilities.
PDI is the global leader in providing enterprise resource planning (ERP)
software and services that help multi-unit convenience stores and gas stations
enhance operating efficiency through retail automation, bulk fuel automation,
business intelligence, financial reporting and workforce management. The
company's retail and petroleum customers operate more than 50,000 sites around
the world.
Barings served as agent on TA Associates' initial investment in PDI in May 2016
and led follow-on financings for six strategic acquisitions that have more than
doubled PDI's customer base and increased its global footprint by more than 60
percent.
"Barings has played a strong supporting role on previous transactions and
Genstar is pleased to collaborate again on our investment in PDI," said Eli
Weiss, managing director for Genstar Capital. "The team's ability to provide
customized, reliable and flexible financing and to fund a credit facility of
this size made it an invaluable partner in structuring a solution that will meet
PDI's growth needs."
"Barings is excited to partner with Genstar on this investment and continue
supporting the growth of PDI," said Brian C. Baldwin, managing director in
Barings Global Private Finance Group. "The acquisitions completed since our
initial investment alongside TA Associates have transformed PDI into a global
market leader with expanded capabilities in the fuel wholesale software market,
and we are confident Genstar's expertise will serve the company well as it
continues to accelerate growth organically and through strategic acquisitions."
With over 600 investment professionals, including more than 70 dedicated solely
to private finance, Barings leverages its global presence and local expertise to
source private credit investments in developed markets worldwide. This global
sourcing network, coupled with a diverse portfolio of platform companies,
provides Barings with ongoing opportunities to finance middle market
transactions including new platform investments, add-on acquisitions and
recapitalizations across the U.S., Europe and Asia.
About PDI
PDI provides software, hardware and professional services to convenience
retailers and wholesale petroleum marketers. Over 750 companies operating more
than 50,000 locations worldwide rely on PDI's software systems for retail
automation, supply-chain management, business intelligence, financial reporting,
and employee time and labor management. For more information about PDI,
visit www.profdata.com.
About Genstar Capital
Genstar Capital is a leading private equity firm that has been actively
investing in high quality companies for more than 20 years. Based in San
Francisco, Genstar works in partnership with its management teams and its
network of operating executives and strategic advisors to transform its
portfolio companies into industry-leading businesses. Genstar manages funds with
total capital commitments of over $9 billion and targets investments focused on
selected sectors within the healthcare, software, financial services, and
industrial technology industries. Learn more at (www.gencap.com).
About TA Associates
TA Associates is one of the largest and most experienced global growth private
equity firms. Focused on five target industries - technology, healthcare,
financial services, consumer and business services - TA invests in profitable,
growing companies with opportunities for sustained growth, and has invested in
nearly 500 companies around the world. Comfortable as either a majority or
minority investor, TA employs a long-term investing approach, utilizing its
strategic resources to help management teams build lasting value in growth
companies. TA has raised $24 billion in capital and is investing out of current
funds of $7.25 billion. The firm's more than 85 investment professionals are
based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information
about TA Associates can be found at www.ta.com.
About Barings LLC
Barings is a $288 billion* global asset management firm dedicated to meeting the
evolving investment and capital needs of our clients. We build lasting
partnerships that leverage our distinctive expertise across traditional and
alternative asset classes to deliver innovative solutions and exceptional
service. A member of the MassMutual Financial Group, Barings maintains a strong
global presence with over 1,700 employees and 600 investment professionals
across 41 offices in 17 countries. Learn more at www.barings.com.
*As of June 30, 2017
Contact:
Brian Whelan, Barings, 704.805.7244, bwhelan(at)barings.com
17/622
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Barings via GlobeNewswire
Datum: 12.09.2017 - 20:14 Uhr
Sprache: Deutsch
News-ID 559684
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contact information:
Town:
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Kategorie:
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