CHICAGO--(BUSINESS WIRE)--Antares Capital announced today it is serving as administrative agent, joint lead arranger and joint bookrunner on a $198 million senior secured credit facility to support the acquisition of Interstate Hotels & Resorts by Kohlberg & Company (“Kohlberg”).
Interstate, headquartered in Arlington, Virginia, employs more than 30,000 highly skilled individuals worldwide and oversees operations at 425 properties located in 40 states and the District of Columbia, as well as nine countries outside of the United States. Interstate is the leading player in its rapidly growing segment of the hospitality industry, which includes services to hotels, resorts and conference centers.
“The team at Antares has been a long-time partner of Kohlberg, and we appreciate the creative and thoughtful approach the Antares team took in structuring the debt financing for the Interstate transaction,” commented Ahmed I. Wahla, partner with Kohlberg & Company. “Antares and our other lending partners provide Interstate with a long-term, flexible capital structure that will allow the company to continue to aggressively pursue its growth initiatives.”
“As always, we’re pleased to support Kohlberg in their latest investment,” said Chet Zara, senior managing director with Antares Capital. “Interstate is a strong brand with a diverse portfolio of contracts and world class operations. We look forward to working closely with Kohlberg and the Interstate team as they pursue continued growth for the business.”
About Interstate Hotels & Resorts
Interstate Hotels & Resorts is a leading U.S.-based global hotel management company, operating branded full and select-service hotels and resorts, convention centers and independent hotels worldwide. Interstate and its affiliates manage nearly 435 hotels with over 77,000 rooms in North America, the UK, Europe, Russia and the CIS, and China, including ownership interest in 42 hotels. In addition, Interstate has executed agreements to manage 37 hotels with over 5,100 rooms under construction or development throughout the world. For more information, visit www.interstatehotels.com.
About Kohlberg & Company
Kohlberg & Company is a leading private equity firm headquartered in New York. Since its inception in 1987, Kohlberg has organized seven private equity funds, through which it has raised over $5 billion of committed equity capital. Over its 29-year history, Kohlberg has completed 66 platform investments and over 145 add-on acquisitions, with an aggregate transaction value of approximately $10 billion. For more information, please visit www.kohlberg.com.
About Antares Capital
Antares Capital is the 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.