Barings Leads Financing for Sentinel’s Recapitalization of Total Military Management
Oct 03, 2017
CHARLOTTE, N.C. (October 3, 2017) – Barings, one of the world’s leading asset management firms with over $288 billion in assets under management, announced that it served as Agent, Sole Lead Arranger, and Sole Bookrunner in a senior secured credit facility supporting Sentinel Capital Partners’ recapitalization of portfolio company Total Military Management, Inc. (“TMM”).
Founded in 2003 and based in Jacksonville, Florida, TMM is a leading technology-enabled, asset-light provider of household relocation services to U.S. military and government personnel. The company has earned a reputation for unparalleled customer service by utilizing sophisticated technology and a best-in-class support team to streamline communications between customers and TMM’s global network of relocation services partners.
“Barings has become a valuable partner to Sentinel, with TMM representing the fourth transaction we have closed together since December,” said Scott Perry, a Partner at Sentinel. “Barings’ in-depth understanding of TMM’s business model and ability to hold the entire facility made this a seamless execution.”
“Barings appreciates the opportunity to partner with Sentinel and TMM on this recapitalization,” said Justin Lay, a managing director in Barings’ Global Private Finance Group. “As the market leading relocation services provider to the U.S. military, TMM is well-positioned to enter its next phase of growth and we look forward to supporting Sentinel and the company as they continue to execute on their strategy.”
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 Total Military Management
TMM was founded in 2003 to enable Department of Defense qualified transportation service providers to better serve the military marketplace. As a non-asset based logistics company, TMM maintains a network of affiliated, trusted transportation partners to service contracted shipments. This model allows TMM to focus on high-quality customer service and efficient move operations to help ensure successful, cost-efficient relocations for military personnel and their families.
About Sentinel Capital Partners
Sentinel is one of the nation's leading lower middle market private equity firms. The firm invests in management buyouts, acquisitions of family businesses, corporate divestitures, industry consolidations, and going-private transactions in the United States and Canada by forging partnerships with talented management teams who want to be owners of the companies they operate. Based in New York City, Sentinel has approximately $2.6 billion of capital under management. Learn more at www.sentinelpartners.com.
About Barings LLC
Barings is a $288 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. A member of the MassMutual Financial Group, Barings maintains a strong global presence with over 600 investment professionals and offices in 16 countries. Learn more at www.barings.com.
*As of June 30, 2017