Overland Advantage Provides One-Year Update on Delivering Innovative Direct Lending Solutions to High Quality Companies in Attractive Industries

NEW YORK, Jan. 30, 2025 /PRNewswire/ -- Overland Advantage ("Overland"), a business development company (BDC) with a differentiated direct lending approach that benefits from a strategic relationship between Centerbridge Partners and Wells Fargo & Company ("Wells Fargo"), today shared an update on the innovative lending solutions it provides to founder, family, and sponsor-owned middle market companies in North America.

Since launching in January 2024, Overland and Wells Fargo have acted as lead arrangers across six unique transactions to companies operating in diverse industries, arranging capital with an aggregate value of $2.8 billion. These companies were able to secure private credit from Overland's tailored direct financing solution, along with flexible, cost-effective capital and supportive banking products from Wells Fargo.

"Overland harnesses the complementary strengths of Centerbridge and Wells Fargo to offer innovative, one-stop lending solutions and a differentiated client experience for borrowers," said Gavin Baiera, CEO and Trustee of Overland Advantage and Senior Managing Director at Centerbridge. "We are proud to provide capital to a range of high-quality companies – many of whom are first time users of private credit solutions – to maximize their capital structures and advance their value creation plans. We thank our clients, partners, network and team for their partnership and collaboration and look forward to enabling more businesses to progress to an exciting future."

"Over the past year, we have engaged with hundreds of clients about how the private credit solutions offered by Overland can support their strategic objectives," said David Marks, Executive Vice President at Wells Fargo Commercial Banking. "We have been pleased with the positive reception from our existing clients, who value our ability to provide them with a new capital alternative, while also adding new clients to Wells Fargo through our relationship with Overland."

The transactions Overland has executed over the past year include:

• Business Services: Led a senior secured credit facility to Continental Services, a leading provider of food-at-work services to commercial customers operating in diverse industries in the Midwest.
   
• Consumer: Led a financing for Capital Vacations, a manager and operator of independent vacation ownership resorts in the U.S., Mexico, and the Caribbean.
   
• Financial Services: Led a $74.0 million second lien credit facility in support of a recapitalization transaction for MaxiTransfers, a money services business specializing in remittances to the US-LATAM corridor.
   
• Healthcare:
  • Led a $215.0 million credit facility in support of a new loan origination to facilitate the ongoing growth of FFF Enterprises, Inc., the nation's most trusted specialty drug distributor and diversified healthcare company.
     
  • Led a financing for SGA Dental Partners, a dental service organization serving the Southeast U.S.
     
  • Led a financing for TriWest Healthcare Alliance, an administrator of healthcare plans serving U.S. military and Veteran communities.

About Overland Advantage

Overland provides innovative lending solutions to founder, family and sponsor-owned middle market companies in North America and allows businesses to pursue their most important strategic goals.

Overland benefits from a strategic relationship between Centerbridge Partners and Wells Fargo, a leading commercial bank in the U.S. Overland borrowers can benefit from more seamless access to Wells Fargo's differentiated treasury management, investment banking services and senior bank capital and Centerbridge's leading private and alternative credit investment capabilities. Overland offers a unique, relationship-driven solution to meet the capital needs of privately owned middle market businesses, many of which have limited connectivity to private credit solutions.

Overland is managed by Overland Advisors Holdings, LLC, a Delaware limited liability company, which is a controlled affiliate of Centerbridge and in which Wells Fargo has a significant, non-controlling minority equity investment.

For more information about Overland, visit www.overland-advantage.com.

Contacts

Kekst CNC

Jeremy Fielding / Anntal Silver / Daniel Hoadley

[email protected]

SOURCE Overland Advantage