New York, NY, April 2, 2020 – Churchill Asset Management (“Churchill” or the “Firm”) today announced that it served as Joint Lead Arranger for a $133 million senior secured credit facility to support the investment in Transportation Impact (the “Company”) by The Jordan Company and certain members of the Company’s Management.
Founded in 2008 and headquartered in Emerald Isle, NC, Transportation Impact is a leading provider of technology and service solutions that reduce costs for high-volume shippers through automatic billing error refunds, carrier agreement negotiation, and both real-time and planned shipping optimization for small parcel and freight. TI currently services over 900 customers, managing over a billion dollars in logistics spend and has helped its customers save more than $587 million.
“Transportation Impact has created significant value for its customers via its proprietary technology and its ability to help businesses break down the complexity of shipping agreements,” said Randy Schwimmer, Senior Managing Director and Head of Origination & Capital Markets at Churchill. “The Company’s investment in automation has given it a competitive edge in identifying solutions for businesses of all sizes, and we look forward to seeing even further growth stemming from Transportation Impact’s new partnership with The Jordan Company.”
The financing marks the tenth transaction that Churchill’s senior lending team has completed in support of an investment by The Jordan Company. Founded in 1982 and headquartered in New York, NY, The Jordan Company is a middle market private equity firm that has managed funds with original capital commitments in excess of $11 billion and has invested in and contributed to the growth of businesses across a wide range of industries.
“We have always found Churchill to be a knowledgeable, reliable and flexible financing partner in past transactions, and we are pleased to be working with the team once again on our acquisition of Transportation Impact,” said Doug Zych, Partner at The Jordan Company. “We look forward to future partnerships with Churchill.”
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 nearly $23 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 60 professionals in New York, Charlotte and Chicago. More information can be found at www.churchillam.com.
About The Jordan Company
The Jordan Company, 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 senior investment team has been investing together for over 20 years and it is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, The Jordan Company also has an office in Chicago. For more information, please visit www.thejordancompany.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 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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