Golub Capital Provides One-Loan Debt Facility To Support The Majority Recapitalization Of Parts Town By Berkshire Partners
NEW YORK, June 30, 2016 /PRNewswire/ — Golub Capital announced today that as Administrative Agent, Sole Lead Arranger and Sole Bookrunner, it provided GOLD financing to support the majority recapitalization of Parts Town by Berkshire Partners. Summit Partners, an existing shareholder, will remain a significant investor in the company. GOLD financings are Golub Capital One-Loan Debt facilities.
Founded in 1987 in Addison, Illinois, Parts Town is the fastest-growing distributor of genuine OEM repair and maintenance parts for the foodservice industry and provides locally-focused field service and technical support. With an extraordinary commitment to customer service and innovation and an industry-leading e-commerce platform, Parts Town provides unique, customized solutions to food equipment manufacturers, food equipment service companies, and restaurants. The company has been named to the Inc. 5000 list of fastest-growing U.S. companies for seven consecutive years. Recently, Parts Town announced the acquisition of Whaley Foodservice Repairs, Inc., a large parts distribution and service business, expanding the company’s footprint and further enhancing its customer service capabilities.
The recapitalization of Parts Town represents Golub Capital’s first time acting as Sole Lead Arranger & Administrative Agent for Berkshire Partners.
About Golub Capital Middle Market Lending
Golub Capital’s award winning middle market lending team structures financing solutions with hold positions of up to $300 million. The team also underwrites and syndicates senior credit facilities and a proprietary suite of GOLD (one-loan debt) facilities, up to $500 million. Golub Capital has been a top 3 US Middle Market Bookrunner each year from 2008 through Q1 2016 for senior secured loans of up to $500 million for leveraged buyouts (according to Thomson Reuters LPC and internal data; based on number of deals).
Golub Capital is a nationally recognized credit asset manager with over $15 billion of capital under management. Golub Capital has three highly complementary business lines led by exceptional teams of credit professionals: Middle Market Lending, Late Stage Lending and Broadly Syndicated Loans. Golub Capital’s lending offices are located in Chicago, New York and San Francisco. For more information, please visit the firm’s website at www.golubcapital.com.
About Berkshire Partners
Berkshire Partners, a Boston-based investment firm, has raised nine private equity funds with more than $16 billion in aggregate capital and has made over 115 investments in primarily middle-market companies since its founding in 1986. Berkshire has developed specific industry experience in several areas including consumer products and retail, business services, industrials, communications and transportation. Berkshire has a strong history of partnering with management teams to grow the companies in which it invests with the goal of consistently achieving superior investment returns. The firm is currently investing from Berkshire Fund VIII, a $4.5 billion fund raised in 2011. In March 2016, Berkshire completed fundraising for Fund IX, which has $5.5 billion in commitments. The firm seeks to invest $50 million to $500 million of capital in each portfolio company. For additional information, visit www.berkshirepartners.com.
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SOURCE Golub Capital
For further information: Meghan Womack, Senior Director Integrated Marketing Communications, 212.574.8408 or [email protected]