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Golub Capital Agents $605MM Financing for Pet Valu Merger

July 12, 2016, 08:01 AM
Filed Under: Retail

Golub Capital announced that as administrative agent, sole bookrunner and joint lead arranger, it provided a $605 million GOLD financing to support the merger of Pet Valu and Pet Supermarket.  GOLD financings are Golub Capital One-Loan Debt facilities.

The financing will support the combination of two current Roark Capital Group portfolio companies.  With 514 stores across nine Canadian provinces, Pet Valu is Canada's pet specialty market leader. Pet Valu also maintains a significant presence in the United States, with 257 additional store locations. Pet Supermarket operates 165 premium pet supply stores, primarily in the Southeastern United States. The merger will create one of largest pet supply retailers in North America, with over 930 store locations throughout the US and Canada.

"We have enjoyed the privilege of partnering with Roark Capital Group on numerous transactions, including its acquisition of Pet Supermarket in 2015," said Troy Oder, Managing Director at Golub Capital. "We are thrilled to facilitate the merger of these two outstanding platforms, and look forward to continuing our support of the company in the future."

"Golub Capital continues to be a terrific financing partner for Roark Capital Group," said Ezra Field, Managing Director at Roark Capital Group. "Golub has supported a number of Roark Capital Group platforms over the last decade, and has consistently adhered to a high standard of reliability, flexibility and speed."

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).

Roark focuses on consumer and business service companies with a specialization in franchised and multi-unit business models in the retail, restaurant, consumer and business services sectors. Since inception, affiliates of Roark Capital have invested in 54 franchise/multi-unit brands, which have generated $20 billion in annual system revenues from 22,000 locations in 50 states and 75 countries.

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