A $38.5 million senior secured term loan to a specialty trucking and logistics company. The Company serves a highly diversified customer base predominantly in the western and southern U.S. Its fleet of heavy-haul, over-dimensional, and other specialized equipment is complemented by specially trained drivers, a broad logistics network, and an experienced management team. Proceeds were used to refinance existing indebtedness and provide working capital. White Oak served as Administrative Agent and Sole Lender for this transaction.
A $45.0 million asset based loan to a leading producer and distributor of consumer electronics to Latin America. The Company makes televisions and distributes other consumer electronics, including tablets, smartphones, DVD and Blu-ray players, and portable audio and video products, through major big-box retailers. Based in San Diego, California, it has manufacturing and marketing facilities in Mexico and a procurement operation in Hong Kong. The asset based loan is being used to purchase television components and to support related letters of credit. White Oak served as Administrative Agent and Sole Lender for this transaction.
An $11.7 million delayed draw (under an existing senior secured facility) to a club-based airline operator located in the Western U.S. The Company’s private air service provides business and corporate executive fliers with an attractive alternative to both commercial carriers and private jets. Members enjoy an affordable private jet experience with the convenience of set routes and schedules, reduced boarding and check-in times, as well as luxurious and intimate cabins. Proceeds are being used to expand the Company’s growing fleet with several additional new aircrafts. White Oak served as Administrative Agent and Sole Lender for this transaction.
A $47.0 million senior secured financing to a specialty retailer of wireless voice and data communications services in the Midwest and Western regions. Proceeds facilitated the acquisition of a competitor to expand the Company’s coverage across the Southeast, Atlantic Seaboard, and Texas, as well as maintain its focus on rural and suburban markets with superior cell service. The combination of the two companies will improve purchasing power, enable shared best practices and operating models, and provide significant cost savings. White Oak served as Co-Lender and provided both a term loan and an asset based loan for this transaction.
A $28.5 million senior secured term loan to an integrated biopharmaceutical firm based in Florida. The Company is largely focused on biodefense, such as developing and manufacturing vaccines against flu and Ebola, under contracts with the National Institutes of Health, the Department of Defense (DoD) and other government and related entities. The Company also has a range of commercial products, including leading-edge cancer treatments. White Oak’s financing is being used to support completion of an advanced flexible biologics production facility, which the Company is building pursuant to a long-term contract with the DoD. White Oak served as Administrative Agent and Sole Lender for this transaction.
A $12.0 million delayed draw (under an existing senior secured facility) to a leading mobile products distributor. The company provides asset recovery, sourcing and fulfillment, and distribution services for new and used phones, tablets, and accessories. Its customer base includes more than 5,000 participants in the worldwide open market. Proceeds were used to purchase inventory to be refurbished. White Oak served as Administrative Agent and Sole Lender for this transaction.
About White Oak
White Oak Global Advisors is an SEC-registered investment adviser that directly originates private debt financings to middle market companies to support growth initiatives. White Oak’s product suite includes asset-based secured term loans, cash flow based term loans, unitranche facilities, rescue and debtor-in-possession (DIP) financings, in/out of court restructurings, acquisition and capital expenditure facilities and other structured finance instruments. With $1.7 billion of invested and committed capital*, White Oak has made over 80 direct debt investments in companies with enterprise values between $50 million and $1 billion. Headquartered in San Francisco, with offices in New York, Dallas and Denver.
*The Firm’s AUM is estimated as of 3/31/2015, and includes the regulatory Assets Under Management in addition to the uncalled capital commitments of the separate accounts managed by the Firm.
Partner & Head of Originations