New York, NY, January 13, 2020 – Churchill Asset Management (“Churchill”) today announced that it served as Administrative Agent and Joint Lead Arranger for a $105 million senior secured credit facility to support the acquisition of Computer Design & Integration LLC (“CDI Integration” or the “Company”) by One Equity Partners (“OEP”).
Founded in 1995 and headquartered in New York, NY, CDI is a value added reseller (VAR) of infrastructure products primarily focused on hybrid infrastructure cloud offerings. The Company also provides managed and professional services to a large base of customers.
“In today’s world, many businesses are pressured to continuously innovate while maintaining operational stability and reducing costs. CDI’s award-winning platform works with clients to develop, implement and manage comprehensive digital transformation strategies using the world’s leading technology providers,” said Randy Schwimmer, Senior Managing Director and Head of Origination & Capital Markets at Churchill. “We are excited to partner with OEP on this transaction, who we believe has the requisite expertise and track record to help lead CDI to the next level of growth.”
The transaction marks the second debt financing that Churchill has completed in support of OEP, a leading middle market private equity firm focused on transformative combinations within the industrial, healthcare and technology sectors. Since its inception in 2001, OEP has partnered with family business owners, founders, management teams and corporate sellers to invest over $8 billion across more than 70 middle market platform companies in the U.S. and abroad.
“We greatly appreciate the Churchill team’s flexibility and swift execution while taking into account both our goals for value creation at CDI and the unique nature of technology companies,” said Carlo Padovano, Managing Director at OEP.
About Churchill Asset Management LLC
Churchill, an investment-specialist affiliate of Nuveen (the asset manager of TIAA), provides customized financing solutions to private equity firms and their portfolio companies across the capital structure. With $22 billion of committed capital under management, our solutions include first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments and private equity fund investments. 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 60 professionals in New York, Charlotte and Chicago. More information can be found at www.churchillam.com.
About One Equity Partners
One Equity Partners is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 180 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit www.oneequity.com.
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 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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