Antares closed 139 transactions totaling almost $11 billion in financing commitments to middle-market, private equity-backed companies in the first half of 2021.
“Antares’ performance in the first half of 2021 illustrates the resilience of our portfolio and the strength of our originations capabilities,” David Brackett, CEO of Antares, said. “Decades of experience and disciplined underwriting have enabled us to develop and maintain a high-quality credit portfolio. With weighted average EBITDA up across the portfolio and zero defaults during the first two quarters, we are optimistic about the continued growth potential for the private equity-backed middle market as we look toward the remainder of the year and beyond.”
Antares’ performance in 2021 comes as the firm continues to grow its asset management division, most recently with the addition of Jeffrey Stammen, who joined the firm as head of investor coverage in asset management. Antares’ capital under management and administration now exceeds $33 billion.
Financings during the first half of 2021 supported the refinancing, leveraged buyout and add-on acquisition activity of both new and existing borrowers. Unitranche structures continued to grow in popularity for the firm, accounting for 37 transactions across 25 private equity sponsors in the first half. Antares also syndicated $7.4 billion to institutional investors during the first two quarters.
- $685 million in first and second lien credit facilities to Dessert Holdings (Bain Capital)
- A $654 million first lien credit facility to OEC (Genstar Capital)
- A $645 million first lien credit facility to Protective Industrial Products (Odyssey Investment Partners)
- A $470 million unitranche credit facility to DrakeSoftware (CINVEN)
- A $350 million unitranche credit facility to Corsearch (Astorg)
- A $296 million unitranche credit facility to American Veterinary Group (Oak Hill Capital Partners)
- A $85 million first lien credit facility to Curtis Bay Medical Waste Services (Aurora Capital Group)
- A $70 million first lien credit facility to KIPU (TCV)
- A Recurring revenue credit facility to AlertMedia (Vista Equity Partners)
- A first lien credit facility to American Trailer Rental Group (Wind Point Partners)
- A first lien credit facility to Hospitalist Group (Gryphon Investors)
- A first lien credit facility to Alacrity Solutions (Kohlberg & Company)