CHICAGO & BOSTON–(BUSINESS WIRE)–The Antares Bain Capital Complete Financing Solution (ABCS), a joint
venture between Antares and Bain Capital Credit, today announced the
closing of a $270 million senior secured unitranche credit facility to
support the acquisition of Comprehensive Pharmacy Services (“CPS”) by
Frazier Healthcare Partners.
Founded in 1971 and employing over 2,500 clinical, regulatory, and
operational pharmacy professionals, Comprehensive Pharmacy Services
provides pharmacy support services to more than 700 hospitals and
healthcare facilities across the U.S. and Puerto Rico.
“We appreciated the certainty and efficiency of the Antares and Bain
Capital unitranche solution,” said Ben Magnano, general partner at
Frazier Healthcare Partners. “The Antares and Bain Capital Credit teams
understand the complexities of the pharmacy space well and together
delivered an optimal financing solution.”
“Antares is pleased to support Frazier Healthcare Partners and the
continued growth of CPS, a trusted partner to pharmacy leaders,” said
Benjamin Chapin, managing director with Antares. “Through their use of
data driven insights, fast reporting and real-time information they are
distinct in their ability to deliver efficiencies and reduce costs for
hospital customers.”
“Leveraging our deep sector expertise, we were able to add value and
deliver a flexible financing solution that will allow Frazier Healthcare
Partners to build on CPS’ strong market leadership position,” said
Carolyn Hastings, a managing director at Bain Capital Credit. “We are
pleased to be supporting Frazier and look forward to a lasting
collaboration as they support the company’s ongoing growth initiatives.”
ABCS provides private equity sponsors and borrowers with access to first
lien unitranche loans of up to $350 million in a single transaction.
Without the requirement of agency meetings or a syndication process, the
Antares and Bain Capital unitranche offering delivers capital with speed
and certainty.
About Antares
With approximately $24 billion of capital under management and
administration as of December 31, 2018, Antares is a private debt credit
manager and leading provider of financing solutions for middle-market
private equity-backed transactions. In 2018, Antares issued nearly $25
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 2018 Lender of the
Year by ACG New York. The company maintains offices in Atlanta, Chicago,
Los Angeles, New York 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”).
About Bain Capital Credit
Bain Capital Credit (www.baincapitalcredit.com)
is a leading global credit specialist with approximately $41 billion in
assets under management. Bain Capital Credit invests up and down the
capital structure and across the spectrum of credit strategies,
including leveraged loans, high-yield bonds, distressed debt, private
lending, structured products, non-performing loans and equities. Our
team of more than 200 professionals creates value through rigorous,
independent analysis of thousands of corporate issuers around the world.
In addition to credit, Bain Capital invests across asset classes
including private equity, public equity and venture capital, and
leverages the firm’s shared platform to capture opportunities in
strategic areas of focus. Bain Capital Credit’s dedicated Private Credit
Group focuses on providing complete financing solutions to businesses
with EBITDA between $10 million and $100 million located in North
America, Europe and Asia Pacific. Our dedicated global team affords us
the ability to diligence the most complex situations and provide private
capital to those companies.
Contacts
Antares Capital
Carol Ann Wharton
475-266-8053
[email protected]
Bain
Capital Credit
Charlyn Lusk
Stanton
646-502-3549
[email protected]
