Barings was joint lead arranger and administrative agent on first lien senior secured credit facilities to support Genstar Capital’s investment in Professional Datasolutions (PDI) and strategic partnership with TA Associates. Ares Capital was joint lead arranger and administrative agent on the second lien credit facilities.
PDI provides enterprise resource planning software and services that help multi-unit convenience stores and gas stations enhance operating efficiency through retail automation, bulk fuel automation, business intelligence, financial reporting and workforce management. The company’s retail and petroleum customers operate more than 50,000 sites around the world.
Barings served as agent on TA Associates’ initial investment in PDI in May 2016 and led follow-on financings for six strategic acquisitions that have more than doubled PDI’s customer base and increased its global footprint by more than 60%.
“Barings has played a strong supporting role on previous transactions and Genstar is pleased to collaborate again on our investment in PDI,” said Eli Weiss, managing director for Genstar Capital. “The team’s ability to provide customized, reliable and flexible financing and to fund a credit facility of this size made it an invaluable partner in structuring a solution that will meet PDI’s growth needs.”
San Francisco-based Genstar Capital is a private equity firm that has been actively investing in high quality companies for more than 20 years.