Barings Backs Sentinel Capital Partners in Acquisition of Nekoosa
Nov 17, 2017
CHARLOTTE, N.C. (November 17, 2017) – Barings, one of the world’s leading asset management firms, announced today that it served as Lead Agent on a senior secured credit facility to support Sentinel Capital Partners in its acquisition of Nekoosa (“Nekoosa” or the “Company”).
Headquartered in Nekoosa, Wisconsin, the Company is a leading manufacturer of specialty paper and film products used in the graphics and commercial print markets, including application and pressure-sensitive tapes, specialty synthetic papers, sheeted digital and offset grade carbonless paper, and extruded film products. Nekoosa serves a highly diverse base of more than 70,000 commercial print and graphics shops in 65 countries.
Barings served as lead senior lender on the transaction, which included a senior term loan and a revolving credit facility.
“Sentinel is pleased to have Barings’ support on our investment in Nekoosa,” said Scott Perry, a partner with Sentinel Capital Partners. “Barings provides flexible capital solutions, seamless execution, and the proven capacity to support future growth, offering us great confidence in our ability to execute Nekoosa’s strategic plan.”
“Barings values the strong partnership we have developed with Sentinel Capital Partners and appreciates the opportunity to support its investment in Nekoosa,” said Justin Lay, a managing director in Barings’ North American Private Finance Group. “Sentinel excels in backing niche market leaders such as Nekoosa, and we look forward to working together to scale the business through organic and inorganic initiatives.”
With over 600 investment professionals, including more than 70 dedicated solely to private finance, Barings leverages its global presence and local expertise to source private credit investments in developed markets worldwide. This global sourcing network, coupled with a diverse portfolio of platform companies, provides Barings with ongoing opportunities to finance middle market transactions including new platform investments, add-on acquisitions and recapitalizations across the U.S., Europe and Asia.
About Sentinel Capital Partners
Sentinel Capital Partners specializes in buying and building businesses at the lower end of the middle market in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of up to $65 million. Sentinel also invests in special situations, including balance sheet restructurings and operational turnarounds. For more information about Sentinel, visit www.sentinelpartners.com.
Barings is a $299 billion* global asset management firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. Part of MassMutual, Barings maintains a strong global presence with over 650 investment professionals and offices in 16 countries. Learn more at www.barings.com.
*As of Sept. 30, 2017