New York, NY, July 30, 2020 – Churchill Asset Management (“Churchill” or the “Firm”) today announced that it served as Joint Lead Arranger for a $115 million senior secured credit facility to support Syndigo LLC (“Syndigo” or the “Company”), a portfolio investment of The Jordan Company (“TJC”). The issuance provides Syndigo additional flexibility to continue expanding its reach and capabilities through M&A.
Headquartered in Chicago, IL, Syndigo is a leading provider of digital product information and content solutions in North America, providing retailers, brands and service providers a cloud-based platform, the Content Experience Hub (“CXH”), to enable commerce and optimize product data management to improve sales conversion.
“While Churchill has remained highly cautious and selective in our investment approach since the onset of COVID-19, we have been actively seeking new financing opportunities for resilient, sponsor-backed businesses,” said Randy Schwimmer, Senior Managing Director and Head of Origination & Capital Markets at Churchill. “Syndigo provides a strong value proposition for its diversified, blue-chip customer base with distinct competitive advantages and has a proven track record of growing and integrating add-on acquisitions. We are thrilled to partner with TJC to support the company’s growth.”
The financing represents the sixth transaction since 2015 that Churchill’s senior lending team has completed in support of TJC, a New York, NY-based middle market private equity firm with original capital commitments in excess of $11 billion and a strong 38-year track record.
“Churchill proved to be a terrific partner throughout the Syndigo transaction process, and their agility, dependability and balance sheet strength have been extremely valuable,” said Doug Zych, Partner at TJC. “We greatly value our partnership with Churchill and appreciate their support on this transaction.”
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 The Jordan Company
TJC (www.thejordancompany.com), founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $11 billion since 1987 and a 38-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Industrials, Transportation & Logistics, Healthcare & Consumer, and Telecom, Technology & Utility. The investment team is supported by the Operations Management Group, which was established in 1988 to initiate and drive operational improvements in portfolio companies. Headquartered in New York, NY, TJC also has an office in Chicago, IL. For more information, visit www.thejordancompany.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, Member FINRA and SIPC.
Investments in middle market loans are subject to certain risks. Please consider all risks carefully prior to investing in any particular strategy. These investments are subject to credit risk and potentially limited liquidity, as well as interest rate risk, currency risk, prepayment and extension risk, and inflation risk.
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