Babson Capital Management Supports Genstar Capital
May 19, 2016
CHARLOTTE, N.C. (May 19, 2016) – Babson Capital Management, one of the world’s leading asset management firms, announced today that it served as joint lead arranger on a senior secured credit facility to support Genstar Capital in its acquisition of Accruent LLC from TA Associates. Babson also served as administrative agent on a second-lien term loan that was part of the financing package.
Babson served as agent on TA Associates’ original 2013 investment in Accruent and led follow-on financings for four strategic acquisitions that have helped Accruent, founded in California, solidify its position as the world’s largest provider of software solutions for asset, facilities and real estate management.
“Babson played a critical role in supporting us throughout the transaction process,” said Ben Marshall, vice president at Genstar. “We are excited to be partnered with the Babson team going forward to help the company achieve its growth goals.”
“Babson is excited to partner with Genstar on its investment in Accruent,” said Brian C. Baldwin, managing director in Babson’s North American Private Finance Group. “We believe Accruent’s ability to integrate several acquisitions and its solid growth point to continued success, and we are confident that Accruent’s experienced management team can leverage Genstar’s expertise in software, healthcare and other relevant industry verticals to achieve the company’s strategic goals.”
Accruent helps real estate and facilities leaders deliver long-term, world-class operational and financial performance through industry-specific suites that deliver greater customer value. Accruent’s solutions are at work in more than 4,400 leading organizations worldwide, including 40 percent of the top 100 retailers, 20 percent of the Fortune 500, 40 percent of the leading universities, all of the top 4 U.S. wireless carriers, 40 percent of U.S. hospitals, and leading service providers managing more than 4 billion square feet of property. Founded in 1995, Accruent is headquartered in Austin with U.S. offices in Santa Monica, Evanston, Columbus, Pittsburgh and Boston. Outside of the U.S., Accruent has offices in Vancouver, BC; Burnaby, BC; Calgary, AB; Vaughan, ON; Reading, UK and Hong Kong. For more information, visit www.accruent.com.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $5 billion and targets investments focused on selected sectors within the healthcare, software, financial services, and industrial technology industries.
About Babson Capital Management
Babson Capital Management LLC is one of the world’s leading asset management firms, with over $231 billion in assets under management as of March 31, 2016. Through proprietary research, analysis and a focus on investment fundamentals, the firm and its global affiliates
develop products and strategies that leverage its broad expertise in global fixed income, structured products, middle market finance, commercial real estate, alternatives and equities. A member of the MassMutual Financial Group, Babson maintains a strong global footprint with operations on four continents and clients in over 20 countries. Learn more at www.babsoncapital.com