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American Capital Provides $31.5MM Term Loan in Teasdale Foods Acquisition

December 04, 2014, 07:12 AM

American Capital announced it has invested $31.5 million to support the acquisition of Teasdale Foods, Inc. by affiliates of Snow Phipps Group, LLC.  Teasdale is a leading provider of private label and branded bean and hominy products to the retail, food service and wholesale channels.  American Capital's investment takes the form of a second lien term loan.    

"Teasdale is a recognized industry leader and the largest provider of both conventional store brand and organic store brand beans in the U.S., serving a large diversified customer base throughout the retail, foodservice and industrial channels," said Ryan Brauns, American Capital Managing Director and Head of Sponsor Finance.  "This is our first time supporting a new Snow Phipps platform investment and we're delighted to partner with them in this business.  Our Sponsor Finance Group continues to search for new opportunities to build relationships with private equity sponsors and support their new buyouts, refinancings, add-on acquisitions, dividend recapitalizations and growth opportunities."

Sundip Murthy, who oversees consumer investing at Snow Phipps, stated: "We were impressed with the responsiveness and dedication of American Capital's Sponsor Finance Group.  They proved to be a reliable financing partner and we hope to collaborate on future investment opportunities."

American Capital and its affiliated funds have invested approximately $12 billion in over 270 portfolio companies in support of leading private equity firms' company buyouts, refinancings, add-on acquisitions, dividend recapitalizations and growth opportunities.  American Capital, Ltd. is a publicly traded private equity firm and global asset manager.  American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate, energy & infrastructure and structured products.

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