Barings Provides Financing to Back Kohlberg’s Investment in Cadence
Jun. 05, 2018
CHARLOTTE, N.C., June 05, 2018 (GLOBE NEWSWIRE) -- Barings, one of the world’s leading financial services firms, announced that it served as administrative agent and joint lead arranger on a first-lien term loan and revolving credit facility to support Kohlberg & Company’s acquisition of Cadence, Inc.
Founded in 1985 and headquartered in Staunton, Virginia, Cadence is a leading supplier of advanced products, technologies and services to medical device and specialty industrial companies worldwide.
“Kohlberg is pleased to collaborate with Barings on our investment in Cadence,” said Christopher W. Anderson, investment partner at Kohlberg & Company. “Barings’ ability to move quickly and offer a full set of capital solutions provided certainty to close and expedited the completion of this transaction.”
“Barings is grateful for the opportunity to partner with Kohlberg once again and help meet the capital needs of Cadence,” said Jessica Lee, a managing director for Barings. “The company has an established position in the advanced surgical medical device market and will benefit greatly from both the increasing prevalence of minimally invasive surgical procedures as well as the deep healthcare industry and specialty manufacturing expertise Kohlberg brings to the table.”
About Cadence Cadence Inc. is a leading supplier of advanced products, technologies and services to medical device and specialty industrial companies worldwide. Cadence develops solutions-oriented relationships with customers and provides highly technical solutions that enable improved product performance in clearly measurable ways. Cadence employs more than 475 people worldwide with its global headquarters in Staunton, VA. More information on Cadence can be found at www.cadenceinc.com.
About Kohlberg & Company Kohlberg & Company, L.L.C. (“Kohlberg”) is a leading private equity firm headquartered in New York. Since its inception in 1987, Kohlberg has organized eight private equity funds, through which it has raised $7.5 billion of committed equity capital. Over its 31-year history, Kohlberg has completed 72 platform investments and approximately 170 add-on acquisitions, with an aggregate transaction value in excess of $15 billion. For more information, please visit www.kohlberg.com.
About BaringsBarings is a $305+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. Part of MassMutual, Barings maintains a strong global presence with over 1,800 professionals and offices in 16 countries. Learn more at www.barings.com.
*As of March 31, 2018