Barings Supports New Mountain Capital Investment in DRB Systems
(Thomson Reuters ONE) -
CHARLOTTE, N.C., Oct. 17, 2017 (GLOBE NEWSWIRE) -- Barings, one of the world's
leading asset management firms, announced today that it served as a Joint Lead
Arranger on a Senior Secured Credit Facility to support New Mountain Capital's
acquisition of DRB Systems LLC.
Founded in 1984 and based in Akron, Ohio, DRB Systems is the leading provider of
turnkey technology solutions used to enhance the operational efficiency of car
wash sites across the U.S. DRB's integrated technology offering includes
hardware and software used in point-of-sale and tunnel control systems as well
as ancillary modules to support marketing, human resources, and business
analytics.
"New Mountain Capital is pleased to have completed its investment in DRB
Systems," said Jack Qian, Director of New Mountain Capital. Laura Holson, Head
of Capital Markets at New Mountain added, "We deeply value Barings' support as a
financing partner as we look ahead towards DRB's exciting future."
"Barings appreciates the opportunity to support New Mountain Capital on its
investment in DRB Systems," said Jessica Lee, a managing director in Barings'
North American Private Finance Group. "DRB Systems is an undisputed market
leader with a compelling value proposition, and we are looking forward to
supporting its continued growth."
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 New Mountain Capital
New Mountain Capital is a New York based investment firm that emphasizes
business building and growth, rather than debt, as it pursues long-term capital
appreciation. The firm currently manages private equity, public equity and
credit capital with aggregate assets under management totaling more than $20.0
billion*. New Mountain seeks out what it believes to be the highest quality
growth leaders in carefully selected industry sectors and then works intensively
with management to build the value of these companies. For additional
information, please visit www.newmountaincapital.com.
About Barings
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 600 investment professionals and offices in 16
countries. Learn more at www.barings.com.
* Includes amounts committed, not all of which have been drawn down and invested
to date.
**As of June 30, 2017
17/277824
Contact:
Brian Whelan, Barings, 704.805.7244, brian.whelan(at)barings.com
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: 17.10.2017 - 16:30 Uhr
Sprache: Deutsch
News-ID 564040
Anzahl Zeichen: 3924
contact information:
Town:
Charlotte
Kategorie:
Business News
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