CHICAGO--(BUSINESS WIRE)--The Middle Market Growth Program (MMGP), a joint venture between Antares and LStar Capital, announced today it has closed a senior secured unitranche credit facility to support the acquisition of Evans Network of Companies (Evans) by Calera Capital (Calera).
Headquartered in Schuylkill Haven, PA, The Evans Network of Companies is a market-leading provider of intermodal, flatbed, brokerage, dry van and other trucking services.
“Antares understood our needs and provided a solution delivering the speed and certainty of execution we desired,” said James Halow, managing director with Calera Capital.
“Evan’s customer-centric approach and track record of supporting and growing its agent network has established them as market leader within the transportation and logistics industry,” said Ryan Simpson, vice president with Antares. “We look forward to working with the Evans management team and Calera as they pursue continued growth opportunities for the business.”
MMGP provides private equity sponsors and borrowers with access to first lien unitranche loans. MMGP does not require rating agency meetings or a syndication process so transactions can close in as few as three weeks. MMGP has the ability to provide up to $250 million in financing for a single transaction.
The Evans Network of Companies is a market-leading provider of intermodal, flatbed, brokerage, dry van and other trucking services. Through its agent network, Evans offers services through a fleet of over 3,000 tractors and over 180 terminals throughout the country. The Evans Network provides customer-centric service in the truckload freight transportation industry and is dedicated to the safety and recognition of its network employees, agent partners and independent contractors. Evans was founded in 1939 by Albert L. Evans, Sr. and is headquartered in Schuylkill Haven, Pennsylvania. For more information, visit www.evansdelivery.com.
About Calera Capital
Founded in 1991, Calera Capital is a private investment firm which has invested over $3.0 billion. With offices in San Francisco and Boston, Calera focuses on partnering with founders and management teams to drive significant value creation in their businesses, primarily in two industry sectors: Business Services and Specialty Industrials. Calera Capital makes substantial equity investments in middle-market businesses and works closely in support of management to build long-term sustainable value through the implementation of strategic and operating initiatives.
About LStar Capital
LStar Capital is the credit affiliate of Lone Star Funds, a global private equity firm that invests in real estate, equity, credit and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized seventeen private equity funds with aggregate capital commitments totaling over $70 billion. Visit us at www.lstarcap.com
About Antares Capital
Antares Capital is a leading provider of financing solutions for middle-market, private equity-backed transactions with offices in Atlanta, Chicago, Los Angeles, New York, Norwalk (Connecticut) and Toronto. Antares has facilitated more than $120 billion in financing over the past five years. Antares was named 2015 Dealmakers of the Year and 2014 Lender of the Year by Mergers & Acquisitions. Visit us at www.antares.com or follow Antares Capital on Twitter at https://www.twitter.com/antarescapital. Antares Capital is a subsidiary of Antares Holdings LP.