OHA is Administrative Agent & Lead Left Arranger for Private Refinancing of FloWorks
Oak Hill Advisors (OHA) has acted as Administrative Agent and Lead Left Arranger for a private unitranche facility supporting FloWorks, a portfolio company of Wynnchurch Capital.
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Rhea-AI Summary
Oak Hill Advisors (OHA) has acted as Administrative Agent and Lead Left Arranger for a private unitranche facility supporting FloWorks, a portfolio company of Wynnchurch Capital. FloWorks, a leading specialty distributor of flow control products and technical solutions provider, will use the financing to refinance existing debt and fund future acquisitions. OHA, leveraging its industry knowledge through investments in similar companies, is the largest holder of the new facility. BMO Capital Markets participated as OHA's private credit joint venture partner.
Positive
- Secured new financing facility for debt refinancing and future acquisitions
- Largest holder position demonstrates strong institutional backing
- Strategic partnership with BMO Capital Markets enhances financing capabilities
Negative
- None.
Details
News Market Reaction – TROW
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New York, New York, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Oak Hill Advisors (“OHA”) served as Administrative Agent and Lead Left Arranger for the private unitranche facility supporting FloWorks, a portfolio company of Wynnchurch Capital, L.P. (“Wynnchurch”). FloWorks is a leading specialty distributor of critical flow control products and provider of tailored technical solutions for MRO-focused applications. OHA is the largest holder across the new financing facility, which will be used to refinance the company’s existing debt and support future acquisitions.
OHA’s existing knowledge of the flow control distributor industry through its investments across other companies in the ecosystem positioned it to quickly provide constructive feedback and play a leadership role in this refinancing solution.
“Our familiarity with the specialty distribution industry through our investments in similar companies allowed us to quickly gain conviction in FloWorks and its business model,” said Eric Muller, Partner and Portfolio Manager at OHA. “The track record the company has built through its customized platform has proven its ability to gain significant market share while continuing to scale, and we look forward to contributing to FloWorks’ next stages of growth.”
BMO Capital Markets also participated in this financing as OHA’s private credit joint venture partner.
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About OHA: Oak Hill Advisors (OHA) is a leading global credit-focused alternative asset manager with over 30 years of investment experience. OHA works with institutions and individuals and seeks to deliver a consistent track record of attractive risk-adjusted returns. The firm manages approximately
With over 400 experienced professionals across six global offices, OHA brings a collaborative approach to offering investors a single platform to meet their diverse credit needs. OHA is the private markets platform of T. Rowe Price Group, Inc. (NASDAQ – GS: TROW). For more information, please visit oakhilladvisors.com.
About FloWorks: Headquartered in Houston, Texas, FloWorks is a leading specialty distributor of critical flow control products and provider of tailored technical solutions for MRO-focused applications. The Company serves customers across chemicals, downstream refining & renewables, high purity & sanitary, and other industrial end markets. FloWorks’ product categories include valves & automation, corrosion resistant flow control, rotating equipment, flanges, filters & purifiers, and instrumentation. For more information, please visit gofloworks.com.
About Wynnchurch: Wynnchurch, headquartered in the Chicago suburb of Rosemont, Illinois, with an affiliate in Canada, was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch’s strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch manages a number of private equity funds with
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