The Middle Market Growth Program (MMGP), a joint venture by Antares and LStar Capital, announced today it has closed a senior secured unitranche credit facility to support the acquisition of Stanton Carpet Corporation by Quad-C Management.
Headquartered in Syosset, NY, Stanton was founded as a family business in 1980. With the Stanton, Antrim, Royal Dutch, Atelier, Rosecore and Crescent brands, the company has grown to be recognized as one of the nation’s leading designers and distributors of decorative, high-quality branded carpet and custom rugs and runners. The Stanton family of brands are available through approximately 4,000 retail partners nationwide, including independent retail floor showrooms, trade showrooms and home furnishing retailers. Stanton currently employs more than 100 people.
“Antares knows Stanton well, so we were pleased to have them lead this transaction along with LStar,” said Thad Jones, partner with Quad-C Management. “In utilizing their unitranche offering, we appreciated the speed and simplicity it brought to the process.”
“Stanton has a strong track record and a proven ability to grow its product offerings and expand successfully into new markets,” said Doug Koch, managing director of Antares Capital. “They are a leader in their market and we look forward to working with Stanton management and Quad-C as they pursue continued growth opportunities 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. MMGP has the ability to provide up to $250 million in financing for a single transaction.
Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a middle-market private equity firm focused on investing in well-established business services, consumer, general industrial, healthcare, specialty distribution and transportation and logistics companies. In its 25-year history, Quad-C has invested over $2 billion of equity across more than 50 companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value.
LStar Capital is the credit affiliate of Lone Star Funds, a global private equity firm that invests in real estate, equity, credit and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized seventeen private equity funds with aggregate capital commitments totaling over $70 billion.
Antares Capital is a leading provider of financing solutions for middle-market, private equity-backed transactions with offices in Atlanta, Chicago, Los Angeles, New York, Norwalk (Connecticut) and Toronto. Antares has facilitated more than $120 billion in financing over the past five years. Antares was named 2015 Dealmakers of the Year and 2014 Lender of the Year by Mergers & Acquisitions.