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Willow Tree Credit Partners Leads Recapitalization of Santek Waste Services

May 14, 2019, 08:45 AM
Filed Under: Waste Management

Willow Tree Credit Partners LP (Willow Tree) served as Administrative Agent for a $75 million Holdco Credit Facility to support the recapitalization of Santek Development Inc. (Santek). Santek is a provider of residential, commercial, and industrial waste collection and disposal services with operations in Tennessee, Georgia, Alabama, Texas, Arkansas, Kentucky, North Carolina, and Virginia. Santek was founded in 1986 and is based in Cleveland, Tennessee.

"Partnering with founders and entrepreneurs is a cornerstone of our business at Willow Tree.  We have enjoyed working with the Santek team to avail a flexible capital structure designed to facilitate the company's strategic growth initiatives," said Jim Roche, Chief Credit Officer of Willow Tree. "We believe that sourcing actionable, curated deal flow through our growing network of operating advisors and industry colleagues represents a distinct competitive advantage for Willow Tree."

"The experience of Tim Lower and Jim Roche in partnering with entrepreneurs within the waste management industry was certainly a driver in our decision to choose Willow Tree as our long-term strategic partner," said Kenny Higgins, CEO & Founder of Santek. "Their understanding of the growth drivers in our key end markets and flexible approach to providing capital differentiated them from the crowd. We are thrilled to have them as partners."

Willow Tree is a credit alternatives platform established to provide flexible capital structure solutions and value-added services to family-owned and financial sponsor-backed middle market businesses. Willow Tree's veteran, cycle-tested management team and origination platform is meaningfully enhanced by a growing network of Operating Advisors and partners to create a balanced, diversified portfolio. Willow Tree embraces complexity, seeking attractive risk-adjusted returns for investors while emphasizing low volatility, capital preservation and loss prevention.

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