Overland Advantage and Wells Fargo Lead Senior Secured Credit Facilities to MaxiTransfers

Rhea-AI Summary

Wells Fargo (WFC) and Overland Advantage have announced a significant financing arrangement for MaxiTransfers, a money service business focused on US-LATAM corridors. The deal includes a $74.0 million second lien credit facility arranged by Overland Advantage and a $90.0 million revolving credit facility led by Wells Fargo.

The recapitalization transaction supports MaxiTransfers, a Housatonic Partners portfolio company serving the Latin American community in the U.S. since the early 2000s. The financing structure combines Wells Fargo's banking expertise with Overland's private credit solutions, demonstrating a strategic partnership between Centerbridge Partners and Wells Fargo.

Positive

• WFC secures significant lending opportunity with $90 million revolving credit facility
• Strategic partnership between Wells Fargo and Centerbridge Partners demonstrates strong market position
• Deal expands WFC's presence in the growing US-LATAM financial services corridor

Negative

• None.

NEW YORK, March 13, 2025 /PRNewswire/ -- Overland Advantage ("Overland"), a business development company with a differentiated direct lending approach that benefits from a strategic relationship between Centerbridge Partners and Wells Fargo, announced today that it served as lead arranger for a $74.0 million second lien credit facility in support of a recapitalization transaction for MaxiTransfers ("Maxi"), a Housatonic Partners portfolio company. Wells Fargo continues as agent and lead to a $90.0 million revolving credit facility.

MaxiTransfers is a money service business specializing in the US-LATAM corridor, serving the Latin American community in the U.S. since the early 2000's.

"We are pleased to continue our relationship with Wells Fargo as Lead Arranger in our Revolving Credit Facility, and we welcome Overland Advantage as a provider of new capital. Overland's flexibility and creativity allowed the Company and its shareholders to maximize their capital structure, while also facilitating our future growth initiatives", said Gabriel Manjarrez, Chief Executive Officer of MaxiTransfers.

"This transaction is consistent with Overland's strategy of supporting companies with demonstratable growth in an attractive industry. Our strategic relationship with Wells Fargo allowed us to deliver a unique and flexible solution to fuel MaxiTransfers' next phase. We look forward to partnering on more opportunities," said Bill Neuenfeldt, Chair of Overland Advantage and Senior Managing Director and COO at Centerbridge.

"We are thrilled to expand our relationship with MaxiTransfers and provide them with not only the bank credit facility, but access to this innovative private credit solution through Overland," said Lance Reynolds, Division Executive with Wells Fargo Commercial Banking.  

About MaxiTransfers

MaxiTransfers LLC, a leading Money Services Business licensed in 49 states, Washington, D.C., and Puerto Rico, specializes in international money transfers, bill payments, and mobile top-ups. With over 4,500 agent locations serving 130,000+ payment points across Latin America, the Caribbean, and Asia Pacific, MaxiTransfers enables billions of dollars' worth of remittances yearly through its proprietary technology platform.

About Overland Advantage

Overland provides innovative lending solutions to founder, family and sponsor-owned middle market companies in North America and allows businesses to pursue their most important strategic goals.

Overland benefits from a strategic relationship between Centerbridge Partners and Wells Fargo, a leading commercial bank in the U.S. Overland borrowers can benefit from more seamless access to Wells Fargo's differentiated treasury management, investment banking services and senior bank capital and Centerbridge's leading private and alternative credit investment capabilities. Overland offers a unique, relationship-driven solution to meet the capital needs of privately owned middle market businesses, many of which have limited connectivity to private credit solutions.

Overland is advised by Overland Advisors, LLC, which is managed by Overland Advisors Holdings, LLC, a controlled affiliate of Centerbridge Partners, L.P.  and an entity in which Wells Fargo has a significant, non-controlling minority equity investment.

For more information about Overland, please visit www.overland-advantage.com.

About Centerbridge

Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines — Private Equity, Private Credit and Real Estate — in an effort to develop the most attractive opportunities for its investors. The firm was founded in 2005 and as of December 31, 2024, has approximately $41 billion in assets under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies.

For more information, please visit www.centerbridge.com | LinkedIn.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 34 on Fortune's 2024 rankings of America's largest corporations. News, insights, and perspectives from Wells Fargo are also available at Wells Fargo Stories.

About Housatonic Partners

Housatonic Partners, founded in 1994, is a private equity investment firm with more than $1.5 billion in capital under management. The firm invests in growing, profitable businesses with highly recurring revenue. Housatonic Partners has backed exceptional management teams in more than 100 small to mid-sized companies over the last 30 years.

For more information, please visit www.housatonicpartners.com.

Contacts
Kekst CNC
Jeremy Fielding / Anntal Silver / Daniel Hoadley
overland@kekstcnc.com 

 

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SOURCE Overland Advantage

FAQ

What is the total value of credit facilities provided to MaxiTransfers in March 2025?

The total credit facilities amount to $164 million, comprising a $74 million second lien credit facility from Overland Advantage and a $90 million revolving credit facility from Wells Fargo.

How is Wells Fargo (WFC) involved in the MaxiTransfers financing deal?

Wells Fargo serves as the agent and lead arranger for the $90 million revolving credit facility and partners with Overland Advantage to provide comprehensive financing solutions.

What is the purpose of the MaxiTransfers recapitalization transaction?

The recapitalization aims to maximize MaxiTransfers' capital structure and facilitate future growth initiatives in the US-LATAM money service business.

What role does Overland Advantage play in the MaxiTransfers financing?

Overland Advantage serves as the lead arranger for the $74 million second lien credit facility and provides flexible private credit solutions through its strategic relationship with Wells Fargo.