CHICAGO--(BUSINESS WIRE)--Antares announced today that it served as sole bookrunner and joint lead arranger, and is acting as administrative agent, for a senior secured credit facility to support the recapitalization of Walter Surface Technologies (“Walter” or the “Company”) by ONCAP, the mid-market private equity platform of Onex.
Founded in 1952 and headquartered in Montreal, QC, Walter is a leading provider of innovative solutions for the metal working industry. Its premium, consumable metal working solutions include abrasives, tooling, power tools, chemical solutions and welding process solutions.
“The Antares team was flexible throughout the process and provided us with an optimal financing solution,” said Wole James, a principal of ONCAP. “We have worked with Antares for many years and we appreciate the focus and speed with which they approach each transaction.”
“Walter is a market leader with a strong management team and workforce dedicated to customer excellence,” said Katie Hockman, managing director of Antares. “With ONCAP’s expertise and track record of successfully partnering with management teams to create meaningful growth, we look forward to this next phase of Walter’s evolution.”
With more than $21 billion of capital under management and administration as of June 2018, Antares 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 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., collectively (“Antares”).