Antares Capital served as joint lead arranger and is acting as administrative agent on $1.4 billion in senior secured credit facilities to support Harvest Partners’ investment in Galway Insurance Holdings, the holding company for EPIC Brokers & Consultants and JenCap.
Galway’s existing private equity investors, Oak Hill Capital and The Carlyle Group, will reinvest alongside the management team and employee shareholders, who will remain significant shareholders.
Galway is a national insurance distribution firm.
“The structure Antares customized includes a portability feature and a sizable delayed draw term loan, allowing all parties to sign and close the deal quickly and provides access to additional liquidity to execute on Galway’s M&A growth strategy,” Dan Glickman, partner with Harvest, said. “Antares’ ability to invest materially in the financing as well as its strength in bringing in additional investors was critical to this successful transaction.”
“Over two decades of tailoring solutions to meet client needs and executing on our commitments has solidified our longstanding sponsor relationships,” Doug Cannaliato, senior managing director at Antares, said. “Galway has an experienced management team and an impressive track record of growth. With Harvest, Oak Hill and Carlyle, Galway has a powerhouse of investors and expertise ready to fuel their next phase of expansion.”
Antares is a private debt credit manager and provider of financing solutions for middle market private equity-backed transactions.