New York, January 11, 2024 – Churchill Asset Management (“Churchill”) today announced that it served as Lead Arranger and Administrative Agent for a senior secured credit facility in support of TJC, L.P.’s (“TJC”) refinancing of and add-on acquisition for Young Innovations (“Young Innovations” or the “Company”).
Based in Algonquin, IL, Young Innovations is a leading global manufacturer and distributor of supplies and equipment used by dentists, oral surgeons, periodontists, hygienists, dental assistants and consumers. The Company’s portfolio of brands includes products that hold leadership positions in the preventive, restorative, orthodontic, endodontic, surgical and diagnostic segments. Young Innovations focuses on delivering innovative, high-quality products and solutions to clinicians and their patients. The Company also pursues strategic acquisition opportunities to increase the breadth and growth potential of our product and service offerings.
The Company’s acquisition of Salvin Dental Specialties LLC (“Salvin”), a leading branded distributor of regenerative biomaterials, surgical instrumentation, and consumable products for the dental implant market, underscores the Company’s strong, one-stop value proposition driven by a comprehensive product portfolio and a proven track record of growing and integrating add-on acquisitions.
“Young Innovations’ business model boasts impressive diversification by customer, distributor, product, and geography. After building a leading market position throughout its history, the Company has evolved alongside their network of national and regional healthcare distributors to target faster growing customers,” said Randy Schwimmer, Senior Managing Director and Co-Head of Senior Lending at Churchill. “We are thrilled to partner with TJC to support the Company’s growth.”
This financing marks the 24th transaction across Churchill’s platform that has been completed in support of TJC, a New York, NY-based middle market private equity firm with approximately $28.9 billion of assets under management and a strong 41-year track record.
“Churchill proved to be a terrific partner throughout the Young Innovations transaction process, and their speed, dependability and balance sheet strength have been extremely valuable,” said Doug Zych, Head of Capital Markets at TJC. “We greatly value our continued 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 $47 billion of committed capital, we provide first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments, secondary solutions 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 160 professionals in New York, Charlotte, Chicago, Dallas and Los Angeles. To learn more about Churchill, visit www.churchillam.com.
About TJC, L.P.
TJC, L.P. (formerly known as The Jordan Company), founded in 1982, is a middle-market private equity firm with approximately $28.9 billion of assets under management and a 41-year track record of investing in and contributing to the growth of many businesses across a wide range of industries including Diversified Industrials; Technology & Infrastructure; Industrial Technologies; Logistics & Supply Chain and Consumer & Healthcare. The senior investment team has been investing together for over 22 years and is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. TJC has offices in New York, Miami, Chicago, and Stamford. For more information, visit www.tjclp.com.
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* The individual making this endorsement received no direct or indirect compensation in return for the endorsement. No material conflicts of interest exist on the part of the individual giving the endorsement, resulting from their relationship with the adviser. Your experience may be different, and there is no guarantee of future performance or success.
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. Securities offered through Nuveen Securities, LLC, member FINRA and SIPC.
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