Oak Hill Advisors (OHA) served as administrative agent and lead left arranger for a unitranche facility supporting National Carwash Solutions (NCS), a portfolio company of Berkshire Partners. OHA provided half of the over more than $1 billion total financing facility, consisting of a unitranche term loan, delayed draw term loan and revolver, which is being used primarily to refinance the company’s existing debt.
OHA first invested in NCS in 2021, supporting Berkshire’s buyout of the company. With this transaction, OHA significantly expanded its lending relationship with NCS, reflecting OHA’s conviction in its market-leading positioning and underlying credit quality.
“With a resilient business model and strong sponsor support, NCS is a leading player poised for continued growth within a sector that we know well,” Eric Muller, portfolio manager and partner at OHA, said. “We look forward to continuing both our longtime support of the company and partnership with Berkshire through this scaled financing solution.”
