New York, NY, March 8, 2021 – Churchill Asset Management (“Churchill”) today announced that it served as Lead Arranger and Administrative Agent for a $62 million senior secured credit facility in support of the acquisition of FoodScience Corporation (“FSC” or the “Company”) by Wind Point Partners (“Wind Point”).
Founded in 1972 and based in Williston, VT, FSC is a formulator and manufacturer of nutritional supplements for humans and animals. The Company’s products offer targeted support including joint health, behavior and immunity and are differentiated based on the products’ history of quality and efficacy. FSC manufactures both proprietary branded products and serves as an outsourced contract manufacturer for third parties utilizing research and innovation to help people and pets live healthier lives.
“FSC has developed strong proprietary brands while capitalizing on e-commerce trends in the growing health & wellness market for both humans and pets,” said Randy Schwimmer, Senior Managing Director and Co-Head of Senior Lending at Churchill. “We look forward to supporting FSC as management continues to grow the Company’s core brands and create value for customers as they partner with the skilled team at Wind Point.”
The financing of FSC marks the fourth transaction which Churchill’s senior lending team has completed in support of Wind Point Partners, a Chicago, IL based private equity firm focused on middle-market companies.
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 $29 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 Wind Point Partners
Wind Point Partners is a Chicago, IL based private equity investment firm that partners with top caliber executives to acquire well-positioned middle market businesses where it can establish a clear path to value creation. Since its founding in 1984, Wind Point has raised over $4 billion in commitments and acquired more than 100 platform companies and 300 add-on acquisitions. More information can be found at https://www.wppartners.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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