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Middle Market Growth Program Supports Littlejohn & Co. Acquisition of Tidel

March 20, 2017, 07:14 AM
Filed Under: Security Systems

The Middle Market Growth Program (MMGP), a joint venture between Antares and LStar Capital, announced it has closed a senior secured unitranche credit facility to support the acquisition of Tidel by Littlejohn & Co., LLC.

Founded in 1978 and headquartered in Carrollton, TX, Tidel is a leading supplier of smart safe solutions in the U.S. The company's smart safe products are used to automate cash handling at organizations that accept cash, such as quick-service restaurants, convenience stores, grocers, money service businesses, healthcare providers and general retailers.

“We appreciate the expedient, reliable financing Antares and LStar provide through MMGP,” said Tony Miranda, managing director of Littlejohn & Co.

“We were pleased to utilize our unitranche offering to meet Littlejohn’s needs,” said Dan Glickman, senior managing director of Antares Capital. “Tidel is a market leader and we look forward to supporting Littlejohn and the Tidel management team as they pursue continued growth for the business.”

MMGP provides private equity sponsors and borrowers with access to first lien unitranche loans. MMGP does not require rating agency meetings or a syndication process so transactions can close in as few as three weeks.

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