Senior secured credit facilities provided by Barings to support TA Associates’ investment in Professional Datasolutions have been tapped for two strategic acquisitions to strengthen the company’s position in the convenience-store retail and wholesale petroleum software markets.
Professional Datasolutions initially received financing from Barings in May 2016 and more recently drew upon committed financing from Barings to finance the acquisition of Intellifuel Systems, a fuel management software provider, and KLS Technologies, a scan data aggregator for retail consumer research.
“TA Associates has a long track record of partnering with Barings’ North American Private Finance team and we have always appreciated its ability to customize creative, flexible and reliable financing solutions,” said Hythem T. El-Nazer, managing director for TA Associates. “Barings continued support enabled PDI to execute on acquisitions that are a key part of its strategic growth plans.”
Professional Datasolutions is provides convenience-store customers with ERP solutions that enhances operating efficiency, including retail automation, bulk fuel automation, business intelligence, financial reporting and workforce management.
“Barings is dedicated to meeting the evolving capital needs of our clients, and we appreciate the opportunity to partner with TA Associates on its investment in PDI,” said Brian C. Baldwin, managing director in Barings’ North American Private Finance Group. “We are excited about the expanded market footprint PDI will gain from the acquisitions.”
TA Associates is a private equity firm that has invested in more than 460 companies around the world and has raised $24 billion in capital. Barings is a $284 billion global asset management firm.