CHICAGO--(BUSINESS WIRE)--Antares Capital (“Antares”) announced today it is serving as administrative agent and lead arranger on a $170 million senior secured credit facility to support the acquisition of SupplyOne, Inc. (“SupplyOne”) by Wellspring Capital Management LLC (“Wellspring”).
Founded in 1998 and headquartered in Newtown Square, PA, SupplyOne is a leading value-added distributor and converter of packaging products.
“We have worked with Antares in the past and were pleased to have them lead the financing for this transaction,” said Matthew Harrison, Partner at Wellspring Capital Management. “Antares was able to make a significant financial commitment, as well as deliver a structure that provides SupplyOne with flexibility to expand and execute on its acquisition strategy.”
“SupplyOne’s management team has deep industry experience and a proven track record of growing both organically and through acquisition,” said Brian Polomsky, Managing Director for Antares. “With investment and guidance from Wellspring, they are well positioned to continue their growth trajectory and deliver unique product sourcing solutions to their customer base.”
About Wellspring Capital Management
Wellspring Capital Management is a leading private equity firm headquartered in New York. Since its founding in 1995, Wellspring has raised over $4 billion of initial capital commitments through six private equity funds. Over the past 20 years, Wellspring has invested in over 35 platform investments across various segments of the U.S. and global economies. Wellspring’s objective is to bring partnership, experience and value creation to each investment. By teaming up with strong management, Wellspring is able to unlock underlying value and pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. The firm functions as a strategic partner, providing management teams with top-line support, M&A experience, financial expertise and access to resources. For additional information, please visit www.wellspringcapital.com.
With more than $20 billion of capital under management and administration, Antares Capital is a private debt credit manager and leading provider of financing solutions for middle-market private equity-backed transactions. In 2017, Antares issued over $21 billion in financing commitments to borrowers through its robust suite of products including first lien revolvers, term loans and delayed draw term loans, 2nd lien term loans, unitranche facilities and equity investments. Antares was the lead left arranger for approximately $17 billion of 1st lien and 2nd lien credit facilities during 2017, and the Company’s world-class capital markets experts hold relationships with over 400 banks and institutional investors allowing the firm to structure, distribute and trade syndicated loans on behalf of its customers. Since its founding in 1996, Antares has been recognized by industry organizations as a leading provider of middle market private debt, most recently being named the 2017 Lender of the Year by ACG New York. The company maintains offices in Atlanta, Chicago, Los Angeles, New York, Norwalk, CT and Toronto. Visit Antares at www.antares.com or follow the company on Twitter at www.twitter.com/antarescapital. Antares Capital is a subsidiary of Antares Holdings LP.