Category: Press Release

NEW YORK, Jan. 4, 2010 /PRNewswire/ — Golub Capital today announced that it has provided Massage Envy, LLC with a GOLD financing to support the acquisition of the company by Sentinel Capital Partners. This is Golub Capital’s third lead-agent deal supporting Sentinel Capital Partners, and the second to utilize the proprietary Golub Capital One-Loan Debt (“GOLD”) facilities.

Massage Envy, LLC, based in Scottsdale, Arizona, is the largest provider of therapeutic massage services in the United States. Through a national franchise system of massage clinics, the company provides professional and affordable therapeutic massage services to consumers with busy lifestyles at convenient times and locations. Founded in 2002, Massage Envy has opened more than 600 clinics in 42 states.

“Sentinel has a long-term track record of successfully investing in franchisor platforms and brings a wealth of expertise to Massage Envy,” said Andrew Steuerman, a senior managing director with Golub Capital. “Massage Envy has a unique model that is performing extremely well in this economic climate. We expect the business to continue its performance for years to come due to favorable demographic and economic trends and company-specific competitive advantages.”

“Golub Capital is extremely knowledgeable about health and wellness and franchisor-based businesses, and they are an ideal financing source for this transaction,” said James D. Coady, a partner with Sentinel Capital Partners. “We are delighted to partner with them once again.”

About Golub Capital

With $4 billion of capital, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm’s proprietary GOLD facility); senior, second lien, and subordinated debt; preferred stock; and co-investment equity. The firm also underwrites and syndicates senior credit facilities up to $200 million. Golub Capital’s hold sizes range from $10 million to $75 million per transaction. The firm was named “Middle Market Lender of the Year” or similar for achievements in 2008 by leading industry magazines Buyouts and Mergers & Acquisitions. Most recently, the firm was named “Mezzanine Financing Agent of the Year” in September 2009 by M&A Advisor. Golub Capital is a national firm with offices in Chicago, New York, and Atlanta. For more information, please visit the firm’s website at www.golubcapital.com.

About Sentinel Capital Partners

Sentinel Capital Partners specializes in buying and building smaller middle-market companies in the United States and Canada in partnership with management. Sentinel targets consumer products, food and restaurants, franchising, manufacturing, and service businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of between $5 million and $35 million. For more information about Sentinel, visit www.sentinelpartners.com.

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SOURCE: Golub Capital

NEW YORK, Dec. 17, 2009 /PRNewswire/ — Golub Capital announced today that it has provided a $20.5 million senior debt facility and a $500,000 equity co-investment to support Linsalata Capital Partners’ acquisition of Spartan Foods of America, Inc.

Founded in 1987 and headquartered in Spartanburg, South Carolina, Spartan is a leading manufacturer and distributor of shelf-stable pizza crusts, toppings (pizza sauces and pepperoni), topped pizzas, fresh refrigerated pancakes, and frozen pizzas. Spartan sells its pizza crust, topped pizzas, toppings, and pancake product lines under the Mama Mary’s brand. Spartan’s frozen pizza is sold under the Mystic Pizza brand, which the company acquired in December 2007.

About Golub Capital

With $4 billion of capital, Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm’s proprietary GOLD facility), senior, second lien and subordinated debt, preferred stock and co-investment equity. The firm also underwrites and syndicates senior credit facilities up to $200 million. Golub Capital’s hold sizes range from $5 million to $75 million per transaction. The firm was named “Middle Market Lender of the Year” or similar for achievements in 2008 by leading industry magazines, Buyouts Magazine and Mergers & Acquisitions. Most recently, the firm was named “Mezzanine Financing Agent of the Year” in September 2009 by M&A Advisor. Golub Capital is a national firm with offices in Chicago, New York and Atlanta. For more information, please visit the firm’s website at www.golubcapital.com.

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NEW YORK, Nov. 18, 2009 /PRNewswire/ — Golub Capital announced today that it has provided a new senior debt facility to Breyers Yogurt Company, a portfolio company of Catterton Partners.

Breyers Yogurt Company is the largest independent yogurt company and one of the most widely recognized yogurt brands in the United States. Its products include Breyers Fruit-on-the-Bottom, Breyers Light, Breyers Disney and the recently launched Breyers Inspirations yogurts as well as YoCrunch. The new facility provided by Golub will be used to support the Company’s continued growth and market expansion.

“This is our second deal with Catterton Partners, and we are pleased to be working with them again on what we see as a unique opportunity to support industry leading brands,” said Golub Capital Senior Managing Director Andy Steuerman. “Catterton has a record of success in building consumer brands, and they are committed to helping these companies achieve their full potential.”

Scott Dahnke, Managing Partner of Catterton Partners, said, “Breyers Yogurt Company has achieved strong growth and operating performance. The financing provided by Golub Capital, who has been a good partner to us, will help ensure that the Company maintains a strong balance sheet and has the resources necessary to continue this momentum.”

About Golub Capital

Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm’s proprietary GOLD facility), senior, second lien and subordinated debt, preferred stock and co-investment equity. Golub Capital was named “Mezzanine Financing Agent of the Year” for 2009 by the M&A Advisor, “M&A Lender of the Year” for 2008 by Mergers & Acquisitions magazine, and “Middle Market Lender of the Year” for 2008 by Buyouts. For more information, please visit the firm’s website at www.golubcapital.com.

About Catterton Partners

With more than $2.3 billion under management, Catterton Partners is a leading private equity firm in the United States focused exclusively on the consumer industry. Since its founding in 1990, Catterton has leveraged its investment capital, strategic and operating skills, and network of industry contacts to establish one of the strongest investment track records in the consumer industry. More information about the firm can be found at http://www.cpequity.com/.

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NEW YORK, Sept. 30, 2009 /PRNewswire/ — Golub Capital announced today that it has provided a $23.5 million one-loan debt financing (through Golub Capital’s proprietary GOLD facility) to support Cortec Group’s acquisition of Katena Products, Inc.

Katena, based in Denville, NJ, is a leading producer and supplier of precision-manufactured micro instruments for ophthalmic surgeries of the anterior segment of the eye (i.e., cataracts, corneal transplants, LASIK, glaucoma). Katena’s products are sold globally to hospitals, ambulatory surgery centers and individual ophthalmic surgeons.

“We are excited to be working again with Cortec, who has a lot of expertise and success in the medical device industry. We are pleased that we were able to provide them with a total solution to their financing needs,” said Golub Capital Senior Managing Director Greg Cashman. “Katena is a true leader in its field and we look forward to partnering with Cortec to build out the Company’s capabilities and accelerate growth.”

“Golub Capital was able to provide us with financing certainty in a very uncertain climate. They delivered on the terms they proposed and executed seamlessly. We are pleased to have a strong partner like Golub,” commented Jonathan Stein, a Senior Managing Director at Cortec Group.

About Golub Capital

Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm’s proprietary GOLD facility), senior, second lien and subordinated debt, preferred stock and co-investment equity. The firm also underwrites and syndicates senior credit facilities up to $200 million. Golub Capital’s hold sizes range from $5 million to $75 million per transaction. The firm was named “Middle Market Lender of the Year” or similar for achievements in 2008 by three leading industry magazines: Buyouts Magazine, Mergers & Acquisitions Journal and M&A Advisor. Most recently, the firm was named “Mezzanine Financing Agent of the Year” in September 2009 by M&A Advisor. For more information, please visit the firm’s website at www.golubcapital.com.

About Cortec Group

Cortec Group, a New York based private equity firm, invests in middle-market manufacturing, distribution, healthcare and proprietary service businesses that have achieved leadership positions in their market niches. Additional information about Cortec can be found at www.cortecgroup.com.

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SOURCE: Golub Capital

NEW YORK, June 23, 2009 /PRNewswire/ — Golub Capital announced today it has provided a $23 million debt facility in support of the recapitalization of Global Compliance Services, Inc. (“Global” or the “Company”), a leading provider of outsourced ethics and compliance solutions to Fortune 1000 companies. A portion of the proceeds from the financing were used to finance the Company’s acquisition of SilentWhistle, Inc., a provider of ethics and compliance incident reporting services.

“We are very excited to have closed our third transaction with Angelo Gordon and our first with Coda Capital in support of a true industry leader like Global Compliance in this difficult economic environment,” said Golub Capital Managing Director Charlie Riceman.

“Golub proved to be a very flexible partner who worked in an expedited manner to complete the recapitalization. We were quite pleased to be working again with such a reliable lender,” commented Joel Schwartz, a Managing Director at Angelo Gordon.

About Golub Capital

Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings (through the firm’s proprietary GOLD facility), senior, second lien and subordinated debt, preferred stock and co-investment equity. The firm also underwrites and syndicates senior credit facilities up to $150 million. Golub Capital’s hold sizes range from $5 million to $75 million per transaction. The firm was named “Middle Market Lender of the Year” or similar for achievements in 2008 by three leading industry magazines: Buyouts Magazine, Mergers & Acquisitions (the official publication of ACG) and M&A Advisor. Golub Capital is a national firm with offices in Chicago, New York and Atlanta. For more information, please visit the firm’s website at www.golubcapital.com

About Angelo Gordon & Co.

Angelo, Gordon & Co. is a privately-held registered investment advisor dedicated to alternative investing. The firm was founded in 1988 and currently manages, with its affiliates, approximately $15 billion. Angelo, Gordon’s Private Equity Group manages over $1 billion in existing investments and committed capital. The group focuses on acquiring businesses and assets with strong management that have the potential for meaningful value creation.

About Coda Capital Partners

Coda is a private equity firm that focuses on acquiring control stakes in companies with enterprise values between $25 million and $150 million. Coda brings substantial operating, strategic and financial expertise to portfolio companies through hands-on involvement, helping management teams create value by building their businesses into great companies.

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SOURCE: Golub Capital

NEW YORK, May 19, 2009 /PRNewswire/ — Golub Capital today announced that it has provided a $22.0 million senior credit facility to support the acquisition of Hosting.com by HostMySite, Inc., a portfolio company of Wachovia Capital Partners (WCP), which contributed additional equity to close the transaction.

HostMySite is a leading hosting provider, delivering highly scalable solutions including managed hosting, dedicated hosting, virtual private servers, and shared hosting. WCP acquired HostMySite in June 2008, partnering with experienced industry executives Art Zeile and Joel Daly, who assumed the roles of CEO and COO, respectively. Hosting.com is a leading multi-location provider of managed hosting and colocation services to small- and medium-sized businesses.

The combination of HostMySite and Hosting.com creates a premier provider of managed hosting and colocation solutions with an industry-leading service offering and a nationwide footprint, including data centers in San Francisco, Irvine, Louisville, and Newark, Delaware.

“HostMySite is exactly the type of company we are excited to partner with in this difficult economic environment,” says Golub Capital Principal Troy Oder. “Despite challenging market conditions, the company’s performance has been strong, and its business model has proven to be resilient. WCP and management have done an excellent job building a platform with meaningful scale and diversity.”

This is Golub Capital’s first transaction with WCP.

“In a market where few lenders are lending, Golub Capital quickly recognized HostMySite’s strengths and delivered an attractive financing solution to facilitate the transaction,” says Scott Stevens, a Principal at WCP. “The acquisition of Hosting.com positions the company for continued growth, and we are confident in Golub Capital’s ability to support that growth.”

About Golub Capital

Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings, senior, second lien and subordinated debt, preferred stock and co-investment equity. The firm was named “Middle Market Lender of the Year” or similar for achievements in 2008 by three leading industry magazines: Buyouts Magazine, Mergers & Acquisitions (the official publication of ACG) and M&A Advisor. For more information, please visit the firm’s website at www.golubcapital.com.

About Wachovia Capital Partners

WCP is a private equity investment affiliate of Wachovia, a Wells Fargo Company, the nation’s fourth largest bank. WCP currently maintains an investment portfolio of roughly $1 billion.

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SOURCE: Golub Capital

NEW YORK, March 30, 2009 /PRNewswire/ — Golub Capital today announced that it has provided a $27.5 million senior credit facility and equity to support the acquisition of Network Express, Inc., by Ace Expediters, Inc., a portfolio company of Atlantic Street Capital.

The combination of Ace Expediters, Inc., (which includes Ace Expediters and Express Courier, d/b/a Medifleet) and Network Express, Inc., creates the leading dedicated route logistics provider in the Eastern United States. The company provides time-critical, reliable delivery solutions for its clients that include companies in the retail auto aftermarket, long-term care pharmaceutical and medical testing laboratory end markets.

At Network Express, medical distribution services have expanded over the years to include some of the most sensitive medical deliveries such as delivering to nursing facilities, pharmaceutical wholesalers, and medical laboratories requiring specimen retrieval. In 2003, Network Express was inducted into the prestigious Inc. 500, by Inc. Magazine, as one of the fastest growing privately held companies in America.

“We are very pleased to support Atlantic Capital on growing Ace Expediters’ already thriving platform. Ace’s business model and financial performance is on point for what we are seeking today,” says Golub Capital Senior Managing Director Andy Steuerman. “However, it is still a very challenging time to get a transaction across the finish line. This transaction utilized our knowledge of the logistics industry to complete this deal in a timely manner.”

This is Golub Capital’s first deal with Atlantic Street Capital.

“We felt comfortable with Golub Capital because they really understood the sector and provided a full solution in a market where very few parties are lending. After working with the Golub team on closing this deal, we are confident that Golub Capital will help us grow the company as we capitalize on opportunities within the logistics industry,” says Peter Shabecoff, a partner with Atlantic Street Partners.

Atlantic Street Capital Description:

Atlantic Street Capital Management, headquartered in Stamford, CT, is a special situations private equity fund investing in middle market companies that present challenges to typical investors.

About Golub Capital

Golub Capital provides buy-and-hold products range from $5 million to $75 million and include one-loan financings (through the Firm’s proprietary GOLD facility), senior, second lien and subordinated debt, preferred stock and co-investment equity. Golub Capital also underwrites and syndicates 1st lien loans up to $150 million. With a broad investment mandate and long-term time horizon, Golub Capital has a high level of flexibility in structuring investments. For more information, please visit www.golubcapital.com.

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NEW YORK, Nov. 17, 2008 /PRNewswire/ — Golub Capital today announced that it has arranged $25.0 million of subordinated debt in support of Whitcraft’s acquisition of Reliable Manufacturing Company, a Bloomfield, Connecticut-based manufacturer of precision components for the aerospace industry serving OEMs in the commercial, business and military markets. Whitcraft, an existing portfolio company of Golub Capital, is a respected producer of formed, machined and fabricated sheet metal aerospace components.

“It is a pleasure to be working with Golub Capital again. Their deep knowledge of the aerospace industry and structuring expertise enabled us to get this acquisition done. Golub Capital has proven that even in turbulent credit and economic environments they stick to their word and deliver. It’s a relief to be partnered with such a reliable lender,” commented Whitcraft CEO Colin Cooper.

About Golub Capital

Golub Capital underwrites and syndicates 1st lien loans up to $150 million. Our buy-and-hold products range from $5 million to $75 million and include one-loan financings (through the Firm’s proprietary GOLD facility), senior, second lien and subordinated debt, preferred stock and co-investment equity. The firm is committed to being a value-added and user-friendly partner to owners, senior management and transaction sponsors. With a broad investment mandate and long-term time horizon, Golub Capital has a high level of flexibility in structuring investments. Golub Capital is a national firm with offices in Atlanta, Chicago, New York and San Francisco. For more information, please visit www.golubcapital.com.

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NEW YORK, Oct. 21, 2008 /PRNewswire/ — Golub Capital today announced that it has provided a GOLD facility for the acquisition of DNA Diagnostics Center, Inc. (DDC) by MTS Health Investors, LLC (MTS). GOLD financings are proprietary Golub Capital One-Loan Debt facilities. Terms of the transaction were not disclosed.

DDC, based in Fairfield, Ohio, is one of the largest and most reputable DNA testing laboratories worldwide and the market leader in human DNA identification testing for the private sector. The Company provides a wide array of DNA testing services in the fields of biological family relationships, forensics and veterinary genetics.

DDC has achieved national recognition serving as the laboratory of choice for many national media programs including Dateline, 48 Hours and Dr. Phil, and has provided the DNA testing for numerous high-profile legal disputes. These cases include the Ohio Innocence Project, which helped exonerate Robert McClendon after 18 years of incarceration, and the landmark paternity suit that identified Larry Birkhead as the biological father of Anna Nicole Smith’s daughter.

This is Golub Capital’s first deal with MTS. “We are pleased to be working with MTS,” said Golub Capital Principal Stefano Robertson. “Golub Capital’s financial resources will help strengthen DDC’s position in its unique marketplace. We are looking forward to watching DDC grow internationally.”

“In this difficult economic environment it is terrific to have Golub Capital as a partner. Golub followed through with its commitment even during this volatile credit market. After working with the Golub team on closing this deal, we are confident that Golub will help us grow the company as we capitalize on opportunities within the DNA testing industry,” says Kenton Rosenberry, a Managing Director with MTS.

About Golub Capital

Golub Capital underwrites and syndicates 1st lien loans up to $150 million. Our buy-and-hold products range from $5 million to $75 million and include one-loan financings (through the Firm’s proprietary GOLD facility), senior, second lien and subordinated debt, preferred stock and co-investment equity. With a broad investment mandate and long-term time horizon, Golub Capital has a high level of flexibility in structuring investments. Golub Capital is a national firm. For more information, please visit www.golubcapital.com.

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SOURCE: Golub Capital

NEW YORK, Sept. 23, 2008 /PRNewswire/ — Golub Capital today announced that it has provided a $20 million GOLD facility, consisting of a $4 million revolver and a $16 million term loan, for the recapitalization of Davis Calibration. The recapitalization refinanced existing debt and provided for incremental borrowing capacity for working capital purposes and growth. GOLD financings are proprietary Golub Capital One-Loan Debt facilities.

Davis Calibration has been owned by JPB Enterprises, Inc., a private equity firm investing in lower-middle market companies on behalf of the Bolduc family and select high-net-worth individuals, since 1999.

Davis Calibration is a worldwide leader of calibration, repair and certification services for test, measurement and control equipment. Founded in 1912, Davis Calibration operates 28 calibration labs strategically located across 20 states in the U.S. and services several industries including aerospace, automotive, manufacturing, medical equipment, nuclear and pharmaceutical among others.

This is Golub Capital’s first deal with JPBE. “We are pleased to be working with JPBE,” said Golub Capital Managing Director Charlie Riceman. “This transaction marks a new chapter in Davis Calibration’s long history. Golub Capital’s financial resources will help strengthen Davis Calibration’s position in its unique marketplace. Davis Calibration is a best of breed calibration and repair service provider that can perform their services at a high standard across a wide range of industries. We are looking forward to watching Davis Calibration grow.”

“In this difficult credit environment it is terrific to have Golub Capital as a partner. The team at Golub Capital stepped up quickly to understand the Company’s needs for growth and has provided the necessary flexibility to carry out our strategic plan. Golub delivered exactly what they said they would deliver and the execution of the transaction was seamless and efficient,” says Jim Bolduc, a Vice President with JPB Enterprises.

About Golub Capital

Golub Capital underwrites and syndicates 1st lien loans up to $150 million. Our buy-and-hold products range from $5 million to $75 million and include one-loan financings (through the Firm’s proprietary GOLD facility), senior, second lien and subordinated debt, preferred stock and co-investment equity. Golub Capital is a national firm with offices in Atlanta, Chicago, New York and San Francisco. For more information, please visit www.golubcapital.com.

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SOURCE: Golub Capital