Golub Capital acted as Left Lead Arranger, Administrative Agent and Joint Bookrunner on an $810 million broadly syndicated loan facility to support the acquisition of Rough Country, LLC by TSG Consumer Partners, and on a $425 million broadly syndicated loan facility to support the acquisition of Confluence Technologies, Inc. by Clearlake Capital (“Clearlake”).
The $810 million facility for TSG’s acquisition of Rough Country from Gridiron Capital consisted of a $585 million first lien term loan, $175 million second lien term loan and $50 million revolver. Jefferies served as Joint Lead Arranger on the transaction.
Golub Capital has served as Administrative Agent to Rough Country since Gridiron Capital’s June 2017 buyout of the company, supporting five additional transactions during that period.
“Golub Capital’s deep credit experience and expert distribution to the institutional BSL market were both invaluable to the success of this transaction,” said Pierre LeComte, Managing Director at TSG Consumer Partners.
The $435 million facility for Clearlake’s acquisition of Confluence from TA Associates consisted of a $40 million revolver, $290 million first lien term loan and $105 million second lien term loan.
“These two rated transactions showcase Golub Capital’s capabilities as a leading broadly syndicated loan arranger,” said Jason Van Dussen, Senior Managing Director, Co-Head of Capital Markets at Golub Capital. “We are pleased to provide the balance sheet and capital markets expertise to drive best-in-class execution for our partners.”
Headquartered in Dyersburg, TN, Rough Country was one of the founders of the off-road industry and remains one of the fastest growing manufacturers and marketers of aftermarket suspension products and off-road accessories with a product portfolio covering ~90% of truck and Jeep models on the road. Rough Country offers best-in-class service and value to its enthusiast customer base, with same-day shipping, a 90-day satisfaction guarantee, and a lifetime replacement warranty.