Churchill Asset Management served as sole lead arranger for a first lien credit facility to support the acquisition of Handgards by Wynnchurch Capital.
Headquartered in El Paso, TX, Handgards is a distributor of foodservice products, including disposable gloves, re-closable bags, tabletop items, expendables and other carryout products. The company operates eight facilities with more than 1 million square feet of space and ships more than 18 million cases of product annually.
“Handgards has been an existing portfolio company of Churchill’s since 2020, and the company continues to be a market leader with significant room for future growth,” Kevin Meyer, managing director and head of origination at Churchill Asset Management, said. “We are thrilled to continue supporting Handgards and its experienced management team as it enters this next chapter with Wynnchurch.”
The financing represents the second transaction that Churchill Asset Management has completed in support of Rosemont, IL-based Wynnchurch Capital, a private equity firm with $9.2 billion of regulatory assets under management. Since its founding in 1999, Wynnchurch Capital has completed more than 135 platform and add-on acquisitions.
“Churchill served as a terrific partner throughout the Handgards transaction process,” Mike MacKay, a principal at Wynnchurch Capital, said. “Churchill’s deep knowledge of the company as an incumbent lender, coupled with its balance sheet strength in committing to the full senior loan facility, proved invaluable in allowing for a swift and timely execution. We look forward to our continued collaboration and partnership with Churchill.”
