An affiliate of Variant Equity Advisors completed the acquisition of Coach USA and Coach Canada. Wells Fargo Capital Finance acted as administrative agent, lead arranger and book runner for the asset-based credit facility provided for the acquisition.
“We are extremely pleased with our ongoing relationship with the Wells Fargo team and their responsiveness to our financial needs,” said Farhaad Wadia, managing partner of Variant Equity. “Coach USA is well positioned for the future and we are excited to have Wells Fargo as a lender as we look to capitalize on ongoing market opportunities.”
“For us to be able to complete such an important financing for Variant Equity and help the firm continue to grow its portfolio of companies is rewarding,” said Christian Conroy, managing director, Wells Fargo Capital Finance. “This deal is demonstrative of our dedication and ability to provide our clients with capital solutions that meet both their transactional and ongoing needs.”
Founded in 2017, Variant Equity is a Los Angeles-based private equity firm that makes control investments in corporate divestiture transactions across a range of industries including transportation and logistics, technology and business services.