Barings Provides Financing to Support Genstar Capital Investment in Professional Datasolutions Inc.
Sep 12, 2017
CHARLOTTE, N.C. (September 12, 2017) – Barings, one of the world’s leading asset management firms, announced that it served as joint lead arranger and administrative agent on first lien senior secured credit facilities to support Genstar Capital’s investment in Professional Datasolutions Inc. (“PDI”) and strategic partnership with TA Associates. Ares Capital Corporation served as joint lead arranger and administrative agent on the second lien credit facilities.
PDI is the global leader in providing enterprise resource planning (ERP) software and services that help multi-unit convenience stores and gas stations enhance operating efficiency through retail automation, bulk fuel automation, business intelligence, financial reporting and workforce management. The company’s retail and petroleum customers operate more than 50,000 sites around the world.
Barings served as agent on TA Associates’ initial investment in PDI in May 2016 and led follow-on financings for six strategic acquisitions that have more than doubled PDI’s customer base and increased its global footprint by more than 60 percent.
“Barings has played a strong supporting role on previous transactions and Genstar is pleased to collaborate again on our investment in PDI,” said Eli Weiss, managing director for Genstar Capital. “The team’s ability to provide customized, reliable and flexible financing and to fund a credit facility of this size made it an invaluable partner in structuring a solution that will meet PDI’s growth needs.”
“Barings is excited to partner with Genstar on this investment and continue supporting the growth of PDI,” said Brian C. Baldwin, managing director in Barings Global Private Finance Group. “The acquisitions completed since our initial investment alongside TA Associates have transformed PDI into a global market leader with expanded capabilities in the fuel wholesale software market, and we are confident Genstar’s expertise will serve the company well as it continues to accelerate growth organically and through strategic acquisitions.”
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.
PDI provides software, hardware and professional services to convenience retailers and wholesale petroleum marketers. Over 750 companies operating more than 50,000 locations worldwide rely on PDI’s software systems for retail automation, supply-chain management, business intelligence, financial reporting, and employee time and labor management. For more information about PDI, visit www.profdata.com.
About Genstar Capital
Genstar Capital 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 $9 billion and targets investments focused on selected sectors within the healthcare, software, financial services, and industrial technology industries. Learn more at (www.gencap.com).
About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Comfortable as either a majority or minority investor, TA employs a long-term investing approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital and is investing out of current funds of $7.25 billion. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.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 1,700 employees and 600 investment professionals across 41 offices in 17 countries. Learn more at www.barings.com.
*As of June 30, 2017
Brian Whelan, Barings, 704.805.7244, firstname.lastname@example.org
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