Barings Provides Senior Credit Facilities to Support TA Associates’ Investment in Retriever Medical/Dental Payments LLC
Feb 22, 2017
CHARLOTTE, N.C. (February 22, 2017) – Barings, one of the world’s leading asset management firms, announced today that it served as lead agent and provided senior credit facilities to support TA Associates in minority recapitalization of Retriever Medical/Dental Payments LLC (“Retriever”).
Founded in 1993 by Frank Shiner, Retriever is a leading electronic-payment company focused exclusively on the healthcare market. The Company provides payment processing services and software to 15,000 healthcare providers, including medical and dental practices, hospitals and veterinary clinics throughout the U.S. Retriever is based in Valhalla, New York.
“TA Associates is pleased to collaborate with Barings’ Global Private Finance Group on our investment in Retriever,” said M. Roy Burns, a managing director at TA Associates. “We greatly value Barings’ deep expertise in providing capital solutions to the middle market, and believe its responsiveness and ability to provide surety to close were critical factors in completing this transaction in a timely manner.”
“Barings believes that through its proprietary software, Practice Management Bridge ®, Retriever offers its healthcare clients a unique integration between the clients ERP system and the payment processing function,” said Mark Hindson, managing director in Barings’ Global Private Finance Group. “We look forward to supporting Retriever’s growth plans as well as working with TA Associates on future investments.”
“For over two decades we have supported TA Associates’ investments,” said Brian C. Baldwin, managing director in Barings’ Global Private Finance Group. “We are excited about Retriever’s prospects as the management team, led by Dominick Colabella, taps TA Associates’ deep experience in electronic payments and healthcare services to leverage Retriever’s already strong position in the healthcare-payment marketplace.”
Barings LLC served as Administrative Agent. Ares is also a lender in the senior secured credit facility.
About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 470 companies around the world and has raised $24 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at www.ta.com.
About Barings LLC
Barings is a $271 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 December 31, 2016