New York, NY, November 3, 2020 – Churchill Asset Management (“Churchill”) today announced that it served as Administrative Agent and Lead Arranger for a first lien credit facility to support a significant equity investment by funds managed by Stone Point Capital LLC (“Stone Point”) and GreyLion Capital (“GreyLion”) in Hyphen Solutions (the “Company”).
Founded in 1999 and headquartered in Addison, TX, Hyphen Solutions is a leading provider of residential construction supply chain management and workflow software. The Company’s products are core to the residential construction process on both the builder and supplier side. Hyphen Solutions’ software enhances the order management process for suppliers, allowing them to communicate directly with builders to share real-time documents and data. In addition, it optimizes the supply chain management process to manage materials, labor, and digitally centralize documentation.
“As demonstrated by a longstanding and diverse customer base of homebuilders and manufacturers, Hyphen Solutions has consistently delivered top-quality products for their clients,” said Randy Schwimmer, Senior Managing Director and Head of Origination & Capital Markets at Churchill. “We are excited to partner with the Stone Point and GreyLion teams on this transaction and believe they are ideally positioned to support the Company, given their track record of investing in core software platforms.”
Hyphen Solutions marks the first lead transaction and fifth total which Churchill’s senior lending team has completed in support of a Stone Point portfolio company. Stone Point is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed eight private equity funds – the Trident Funds – with aggregate committed capital of more than $26 billion.
The transaction is also the first that Churchill’s senior lending team has led and completed in support of New York, NY-based GreyLion (formerly known as PWP Growth Equity), which focuses on investing in high-growth businesses in the lower middle market across the consumer, industrial, software and services sectors. The firm currently manages private equity funds with aggregate commitments of $1.35 billion.
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 $24 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 80 professionals in New York, Charlotte and Chicago. More information can be found at www.churchillam.com.
About Stone Point Capital
Stone Point Capital is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed eight private equity funds – the Trident Funds – with aggregate committed capital of more than $26 billion. Stone Point targets investments in companies in the global financial services industry and related sectors. For more information, please visit www.stonepoint.com.
About GreyLion Capital
GreyLion Capital (formerly known as PWP Growth Equity) focuses on investing in high-growth businesses in the lower middle market. We seek to partner with existing owners and management teams across the industrial, consumer, software and services sectors to deliver capital in tailored and flexible minority and control structures. GreyLion invests $25-$125 million of capital per investment, primarily within the United States. GreyLion currently manages private equity funds with aggregate commitments of $1.35 billion.
For more information on GreyLion Capital, please visit https://www.greylioncapital.com/ or contact Jody Shechtman at email@example.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.