Golub Capital Provides Senior Subordinated Notes to Support the Recapitalization of ABRA Auto Body & Glass by Palladium Equity Partners and Company Management
NEW YORK, Nov. 7, 2011 /PRNewswire/ -- Golub Capital announced today that it provided a $27.9 million senior subordinated debt facility and an equity co-investment to support the recapitalization of ABRA Auto Body & Glass ("ABRA" or the "Company") by Palladium Equity Partners, LLC ("Palladium").
Founded in 1984, ABRA is a leading provider of vehicle damage repair services in the U.S. ABRA owns 75 repair centers and actively supervises 38 franchised centers in 12 states. The ABRA solution enables its insurance company partners to improve customer satisfaction and drive policyholder retention, while realizing substantial efficiencies in the claims management process and reducing repair costs.
"ABRA is a leader in the collision repair industry due to the strong value proposition it offers to its national insurance company customers. The strength of the platform and the ongoing growth of its customer relationships have positioned ABRA to benefit from continued industry consolidation and organic growth," expressed Golub Capital Senior Managing Director Greg Cashman. "We are very excited to partner with Palladium and ABRA's Management Team."
"From the beginning of the transaction process, Golub Capital was supportive and demonstrated flexibility by providing multiple capital structure alternatives," said Luis Zaldivar, Managing Director at Palladium. "We ultimately chose them as our partner to provide subordinated debt and an equity co-investment due to their understanding of the business and their ability to close in a timely manner."
About Golub Capital
With over $5 billion in capital under management, 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 up to $100 million per transaction.
Golub Capital is currently ranked as the #1 Middle Market Bookrunner for YTD 3Q 2011 by Thomson Reuters Loan Pricing Corporation. Golub Capital was named "Middle Market Lender of the Year" by Buyouts Magazine in 2009 and 2010. The firm was also honored as "Debt Financing Agent of the Year" by M&A Advisor in 2010. Golub Capital is a national firm with principal offices in Chicago and New York. For more information, please visit the firm's website at golubcapital.com.
About Palladium Equity Partners
Formed in 1997, Palladium targets investments in business services companies as well as in financial services, consumer/retail, food/restaurants, healthcare, industrial and media businesses. Palladium has a focus on companies that are well-positioned to capitalize on the fast-growing U.S. Hispanic market. The principals of Palladium have directed investments of over $1.5 billion of equity in 50 portfolio companies over the last two decades. For more information on Palladium, please visit www.palladiumequity.com.
SOURCE Golub Capital