Antares Capital served as administrative agent, joint lead arranger and joint bookrunner on a $198 million senior secured credit facility to support the acquisition of Interstate Hotels & Resorts by Kohlberg & Company.
“The team at Antares has been a long-time partner of Kohlberg, and we appreciate the creative and thoughtful approach the Antares team took in structuring the debt financing for the Interstate transaction,” said Ahmed I. Wahla, partner with Kohlberg & Company. “Antares and our other lending partners provide Interstate with a long-term, flexible capital structure that will allow the company to continue to aggressively pursue its growth initiatives.”
“As always, we’re pleased to support Kohlberg in their latest investment,” said Chet Zara, senior managing director with Antares Capital. “Interstate is a strong brand with a diverse portfolio of contracts and world class operations. We look forward to working closely with Kohlberg and the Interstate team as they pursue continued growth for the business.”
Interstate Hotels & Resorts is a U.S.-based global hotel management company, operating branded full and select-service hotels and resorts, convention centers and independent hotels worldwide.
Kohlberg & Company is a private equity firm headquartered in New York. Since its inception in 1987, Kohlberg has organized seven private equity funds, through which it has raised over $5 billion of committed equity capital.