Golub Capital Provides Financing to Support the Acquisition of Massage Envy by Sentinel Capital Partners
NEW YORK, Jan. 4, 2010 /PRNewswire/ — Golub Capital today announced that it has provided Massage Envy, LLC with a GOLD financing to support the acquisition of the company by Sentinel Capital Partners. This is Golub Capital's third lead-agent deal supporting Sentinel Capital Partners, and the second to utilize the proprietary Golub Capital One-Loan Debt ("GOLD") facilities.
Massage Envy, LLC, based in Scottsdale, Arizona, is the largest provider of therapeutic massage services in the United States. Through a national franchise system of massage clinics, the company provides professional and affordable therapeutic massage services to consumers with busy lifestyles at convenient times and locations. Founded in 2002, Massage Envy has opened more than 600 clinics in 42 states.
"Sentinel has a long-term track record of successfully investing in franchisor platforms and brings a wealth of expertise to Massage Envy," said Andrew Steuerman, a senior managing director with Golub Capital. "Massage Envy has a unique model that is performing extremely well in this economic climate. We expect the business to continue its performance for years to come due to favorable demographic and economic trends and company-specific competitive advantages."
"Golub Capital is extremely knowledgeable about health and wellness and franchisor-based businesses, and they are an ideal financing source for this transaction," said James D. Coady, a partner with Sentinel Capital Partners. "We are delighted to partner with them once again."
About Golub Capital
With $4 billion of capital, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm's proprietary GOLD facility); senior, second lien, and subordinated debt; preferred stock; and co-investment equity. The firm also underwrites and syndicates senior credit facilities up to $200 million. Golub Capital's hold sizes range from $10 million to $75 million per transaction. The firm was named "Middle Market Lender of the Year" or similar for achievements in 2008 by leading industry magazines Buyouts and Mergers & Acquisitions. Most recently, the firm was named "Mezzanine Financing Agent of the Year" in September 2009 by M&A Advisor. Golub Capital is a national firm with offices in Chicago, New York, and Atlanta. For more information, please visit the firm's website at www.golubcapital.com.
About Sentinel Capital Partners
Sentinel Capital Partners specializes in buying and building smaller middle-market companies in the United States and Canada in partnership with management. Sentinel targets consumer products, food and restaurants, franchising, manufacturing, and service businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of between $5 million and $35 million. For more information about Sentinel, visit www.sentinelpartners.com.
First Call Analyst:
SOURCE: Golub Capital
CONTACT: Andrew Steuerman, Golub Capital, +1-212-660-7280,