Churchill Serves as Joint Lead Arranger for a Senior Secured Facility Supporting Sentinel Capital Partners’ Acquisition of Pet Supplies Plus

New York, NY, January 3, 2019 – Churchill Asset Management (“Churchill”) today announced that it served as Joint Lead Arranger for a senior secured credit facility to support the acquisition of Pet Supplies Plus (“PSP”) by Sentinel Capital Partners. Founded in 1988 and headquartered in Michigan, PSP is the largest “independent” pet-specialty operator and the third largest pet specialty chain in the United States.

“Pet industry spending is at an all-time high, and PSP is a clear beneficiary, having grown to nearly 450 franchised and corporate stores across the country,” said Randy Schwimmer, Senior Managing Director and Head of Origination & Capital Markets at Churchill. “Sentinel Capital Partners is the ideal partner to leverage PSP’s strong and growing franchise system and its best-in-class customer loyalty to support management through the company’s next phase of growth.”

The financing represents the fourth transaction that the Churchill platform has completed in support of Sentinel Capital Partners, one of the country’s leading private equity firms focused on the lower midmarket. Based in New York City, Sentinel Capital Partners has raised approximately $5.2 billion of capital since inception in 1995.

About Churchill Asset Management

Based in New York, Churchill Asset Management LLC is a leading provider of senior and unitranche debt financing for middle market companies, particularly those backed by top-tier private equity sponsors. Churchill has $6.3 billion of committed capital under management and has broad experience in all aspects of the middle market financing business, including structuring, credit analysis, syndication, and deal monitoring and oversight. More information can be found at www.churchillam.com.

About Sentinel Capital Partners

Sentinel specializes in buying and building businesses in the lower midmarket in the United States and Canada in partnership with management. Sentinel targets aerospace and defense, business services, consumer, distribution, food and restaurants, franchising, healthcare, and industrial businesses. Sentinel invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of established businesses with EBITDA of up to $65 million. Sentinel also invests in special situations, including balance sheet restructurings and operational turnarounds. For more information about Sentinel, visit www.sentinelpartners.com.

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Churchill Asset Management is a registered investment advisor and majority-owned, indirect subsidiary of Teachers Insurance and Annuity Association of America. Certain Nuveen products are advised by Nuveen Alternatives Advisers LLC, a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, Members FINRA and SIPC.

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