Barings Leads $200 Million Senior Debt Financing for Kian Capital Partners’ Recapitalization of SPATCO
25 Julio 2024 - 8:00AM
Business Wire
Barings, one of the world’s leading investment managers, today
announced it has served as lead senior agent to provide $200
million in committed senior debt financing to support Kian Capital
Partners’ (“Kian”) sale of SPATCO Energy Solutions (“SPATCO” or
“the Company”) into a single-asset continuation fund investment
vehicle managed by Kian.
“Barings is pleased to continue our partnership with Kian, with
which we have completed multiple financings, and to support their
portfolio company SPATCO in the next chapter of the Company’s
growth,” said Scott Chappell, Managing Director in Barings’ Global
Private Finance Group. “We are impressed by SPATCO’s long-tenured,
market leading position, and mission critical offerings within the
fueling station infrastructure space.”
“We appreciate Barings’ dependability, solutions’ orientation,
and ability to scale alongside SPATCO,” said Jordan Lee, Partner at
Kian. “We are confident that there is a long runway ahead of
SPATCO, and our shared vision for the future of the platform will
further solidify the business as the industry’s service partner of
choice.”
This transaction expands Barings’ $32.78 billion* Global Private
Finance platform, which leverages a deep bench of more than 80
investment professionals and a 30-year track record of providing
financing solutions to sponsors while generating attractive
risk-adjusted returns for investors.
About Barings:
Barings is a $406+ billion* global asset management firm that
partners with institutional, insurance, and intermediary clients,
and supports leading businesses with flexible financing solutions.
The firm, a subsidiary of MassMutual, seeks to deliver excess
returns by leveraging its global scale and capabilities across
public and private markets in fixed income, real assets and capital
solutions.
*Assets under management as of March 31, 2024
About Kian Capital
Partners:
At Kian, we forge partnerships to ignite growth and build
enduring value. Our goal is to provide flexible financial resources
and additional operational horsepower to scale lower-middle-market
businesses, realize aspirations and deliver long-term investment
returns through genuine partnership. Proud to be recognized on
Inc.’s Founder-Friendly Investors list for three consecutive years,
Kian is a private investment firm with $1 billion of capital under
management and a focus on four core industry sectors: consumer,
services, value-added distribution and specialty manufacturing. Our
team of seasoned investors has over 100 years of collective
experience providing transformational capital solutions and
board-level strategic and operational guidance to founder/owner
operated businesses. To learn more, visit www.kiancapital.com.
About SPATCO Energy
Solutions:
Headquartered in Charlotte, North Carolina, with 33 offices and
1,000 team members, SPATCO is a leading sales, service and
maintenance, installation, and compliance provider to fueling
infrastructure providers across the United States. The company is
one of Dover Fueling Solutions’ largest distributors of Wayne
products and offers complete environmental compliance, assessment
and remediation services. With almost 90 years of experience,
SPATCO employs a differentiated service-oriented model on behalf of
a diverse and longstanding customer base that includes retail,
industrial, commercial fleet and electric vehicle charging and
fueling companies. To learn more, visit www.spatco.com.
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