Churchill and Court Square Capital Partners Announce Recapitalization of Momentum Telecom

Churchill Serves as Lead Arranger and Administrative Agent for a $295 Million Senior Secured Credit Facility in Support of Court Square’s Recapitalization of Momentum Telecom

New York, NY, April 20, 2021 – Churchill Asset Management (“Churchill”) today announced that it served as Lead Arranger and Administrative Agent for a $295 million senior secured credit facility for Momentum Telecom (“Momentum” or the “Company”). Churchill has been an incumbent lender to Momentum since Court Square Capital Partners’ (“Court Square”) initial acquisition of the Company in 2018.

Momentum, based in Atlanta, GA, is a global provider of cloud voice, managed network services, and unified communications solutions. Momentum empowers human connections through developing, streamlining and integrating cloud voice and cloud-based applications in order to enable others to thrive. An industry leader in customer experience, Momentum uses superior technology, a geo-redundant network, and an extensive partner network to empower businesses to communicate better, faster, and more efficiently.

“Momentum has successfully made multiple acquisitions and continues to thrive in a large and growing industry, offering a full breadth of service options to add value for their customers,” said Randy Schwimmer, Senior Managing Director and Co-Head of Senior Lending at Churchill. “We look forward to continuing our support of Momentum as the business grows and both Momentum and Court Square capitalize on the Company’s success to date.”

This financing by Churchill’s senior lending team marks the second transaction with Momentum and tenth transaction in support of Court Square.

About Churchill Asset Management LLC

Churchill, an investment-specialist affiliate of Nuveen (the asset manager of TIAA), provides customized financing solutions to middle market private equity firms and their portfolio companies across the capital structure. With $30 billion of committed capital, we provide first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments and private equity fund commitments. Churchill has a long history of disciplined investing across multiple economic cycles and our unique origination strategy, best in class execution and investment are driven by more than 90 professionals in New York, Charlotte and Chicago. More information can be found at www.churchillam.com.

About Court Square Capital Partners

Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, the team has completed over 235 investments, including several landmark transactions, and has developed numerous businesses into leaders in their respective markets. Court Square invests in companies that have compelling growth potential within the business services, general industrial, healthcare, and technology and telecommunications sectors. The firm has $7.3 billion of assets under management and is based in New York, N.Y. More information can be found at https://www.courtsquare.com/.

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This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Financial professionals should independently evaluate the risks associated with products or services and exercise independent judgment with respect to their clients.

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 Advisors LLC, a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, Member FINRA and SIPC.

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Churchill Asset Management
Location
430 Park Avenue, 14th Floor
New York, NY 10022
Phone
(212) 478-9200
Email
info@churchillam.com

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