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 Tidel by Littlejohn & Co., LLC (Littlejohn).
Founded in 1978 and headquartered in Carrollton, TX, Tidel is a leading supplier of smart safe solutions in the U.S. The company's smart safe products are used to automate cash handling at organizations that accept cash, such as quick-service restaurants, convenience stores, grocers, money service businesses, healthcare providers and general retailers.
“We appreciate the expedient, reliable financing Antares and LStar provide through MMGP,” said Tony Miranda, managing director of Littlejohn & Co.
“We were pleased to utilize our unitranche offering to meet Littlejohn’s needs,” said Dan Glickman, senior managing director of Antares Capital. “Tidel is a market leader and we look forward to supporting Littlejohn and the Tidel management team as they pursue continued growth 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.
About Tidel
Headquartered outside of Dallas, TX, Tidel is a leading provider of cash management solutions that empower retail institutions across the globe to better manage their daily cash operations, reduce risk, and increase profits. Since 1978, customers have relied on Tidel to provide the most innovative and reliable solutions that help secure, optimize, and streamline their cash environment. Information about Tidel and its products may be found on the company's website at www.tidel.com.
About Littlejohn & Co., LLC
Littlejohn & Co. is a Greenwich, Connecticut-based private equity firm investing in middle-market companies that are undergoing a fundamental change in capital structure, strategy, operations or growth that can benefit from its operational and strategic approach. The firm is currently investing Littlejohn Fund V, L.P., which has $2 billion in capital commitments. For more information, visit www.littlejohnllc.com.
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.