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Golub Capital Provides $280MM Credit Facility in Freeman Spogli Acquisition

July 11, 2016, 08:02 AM
Filed Under: Retail

Golub Capital announced that as administrative agent, lead arranger and joint bookrunner, it provided a $280 million GOLD financing to finance Freeman Spogli's acquisition of Batteries Plus Bulbs ("B+B").  GOLD financings are Golub Capital One-Loan Debt facilities.

B+B is the nation's leading battery, light bulb, and smartphone/tablet repair specialty retail franchise. The company has nearly 700 B+B stores located across 48 states and Puerto Rico. B+B provides the widest selection of battery and light bulb products available that is complemented  by extensive category expertise and value-added services including diagnostics, installation and recycling.

"We are thrilled to complete another transaction in partnership with Freeman Spogli," said Troy Oder, Managing Director at Golub Capital.  "We believe that Freeman Spogli's extensive experience in the specialty retail sector will allow them to build on B+B's strong position as a market leader in a unique niche."

Golub Capital's award winning middle market lending team structures financing solutions with hold positions of up to $300 million. The team also underwrites and syndicates senior credit facilities and a proprietary suite of GOLD (one-loan debt) facilities, up to $750 million. Golub Capital has been a top 3 US Middle Market Bookrunner each year from 2008 through Q1 2016 for senior secured loans of up to $500 million for leveraged buyouts (according to Thomson Reuters LPC and internal data; based on number of deals).

Freeman Spogli & Co. is a private equity firm dedicated exclusively to investing in and partnering with management in consumer-related and distribution companies in the United States. Since its founding in 1983, Freeman Spogli has invested over $3.8 billion in 56 portfolio companies with aggregate transaction value of approximately $22 billion, and is currently making investments from FS Equity Partners VII, L.P. 

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