CHICAGO--(BUSINESS WIRE)--Antares Capital announced today that it is serving as administrative agent and joint lead arranger on a new $58 million senior secured credit facility to support the acquisition of Travelpro Group Holdings Inc. by MidOcean Partners.
Headquartered in Boca Raton, Florida, Travelpro is a leading designer and marketer of high quality luggage under the Travelpro and Atlantic brand names and the leading licensed luggage, bag and travel accessory provider to the Canadian market through its sister company Holiday.
“The Antares team understands our strategy and executed this transaction with speed and certainty,” said Daniel Penn, managing director for MidOcean Partners. “We appreciate the supportive approach they demonstrated throughout the process.”
“We’re very pleased to work with MidOcean Partners on their latest investment in Travelpro,” said Graham Manley, managing director with Antares. “Travelpro’s brand and products are very well regarded in the market and Holiday is the leading bag supplier to the Canadian market, so we are excited to see how the company continues to grow and evolve with the support of the team at MidOcean Partners and new CEO Blake Lipham.”
About Travelpro Group Holdings, Inc.
Travelpro is leading marketer and supplier of high-quality luggage, assorted bags, and travel accessories predominantly to the United States and Canadian markets. The Company operates two distinct business units: Travelpro (“Travelpro”), which supplies its own branded consumer products portfolio (Travelpro and Atlantic) of luggage primarily in the United States and Holiday Group (“Holiday”), which supplies mainly licensed products to the Canadian market.
About MidOcean Partners
MidOcean Partners is a premier private equity firm headquartered in New York focused on the middle market. MidOcean is committed to investing in high quality companies with stable market positions and multiple opportunities for growth. Targeted sectors include consumer and media and business services. MidOcean utilizes a broad foundation of expertise in its focus industries to create value for its investors and partners. For more information, visit www.midoceanpartners.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.