Overland Advantage, a business development company with a direct lending approach that benefits from a strategic relationship between Centerbridge Partners and Wells Fargo, served as sole lead arranger and book-runner for a $215 million credit facility in support of a new loan origination to facilitate the ongoing growth of FFF Enterprises, a founder-owned company. In connection with the transaction, Wells Fargo continues to lead a $904 million Wells Fargo-agented asset-based loan.
“We are excited to partner with Overland, and we believe that the flexibility of the capital that was provided will enable FFF to focus on opportunities to expand our product offerings, grow our specialty distribution capabilities into new markets and, ultimately, support the overall healthcare ecosystem,” Patrick M. Schmidt, CEO of FFF Enterprises, said.
“We are very pleased to support FFF,” Gavin Baiera, CEO and Trustee of Overland Advantage and senior managing director at Centerbridge, said. “We have been a leading investor in healthcare businesses and providing an innovative financing solution through Overland highlights our capability and desire to support growing, founder-owned businesses.”
“Providing long-time clients like FFF Enterprises with seamless access to private credit solutions through Overland and our leading asset-based lending platform gives them a broader set of options to pursue their goals, complementing our comprehensive suite of financial services including treasury management and investment banking,” Kurt Marsden, head of Wells Fargo Capital Finance, said.
