Varagon Capital Partners will serve as administrative agent, joint lead arranger and joint bookrunner on a senior secured credit facility to support the acquisition of ALC Schools by affiliates of Palladium Equity Partners.

ALC offers alternative student transportation solutions for a variety of student populations, including special education, homeless, foster and other in-need students. ALC has 23 field offices across the U.S., along with student monitoring and tracking centers in Utah and North Carolina. ALC’s technology solutions are driven by Red Rock Technology, a proprietary technology platform.

Palladium is a middle market private equity firm with approximately $3 billion in assets under management.

Varagon Capital Partners is an asset manager focused on direct lending to middle market companies.