New York, NY, February 9, 2022 – Churchill Asset Management (“Churchill”) today announced that it served as Lead Arranger and Administrative Agent for a unitranche credit facility in support of Greenbriar Equity Group, L.P.’s (“Greenbriar”) acquisition of The Facilities Group (“TFG” or the “Company”).
Headquartered in Tampa, FL, The Facilities Group is a leading provider of integrated facilities maintenance solutions. The Company partners with premier local, regional, and national brands to provide best-in-class service for customers nationwide across a broad set of end markets. TFG completed seven add-on acquisitions in 2021 and currently operates through a portfolio of ten unique brands servicing more than 25,000 customer locations nationwide.
“The Facilities Group has established itself as a leading provider of facility maintenance and janitorial services, demonstrating a high level of client retention and a differentiated ability to service customers at the national, regional and local levels,” said Randy Schwimmer, Senior Managing Director and Co-Head of Senior Lending at Churchill. “We feel confident that TFG will prosper and continue to expand its footprint into new service areas, end markets and geographies with the support of Greenbriar and its network of industry resources.”
The financing of TFG marks the third transaction which Churchill’s senior lending team has completed in support of Greenbriar, New York-based private equity firm.
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 $37 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 100 professionals in New York, Charlotte and Chicago. More information can be found at www.churchillam.com.
Founded in 1999, Greenbriar is a private equity firm with aggregate capital commitments totaling more than $6 billion, across five funds, and is focused on investments in market-leading services and manufacturing businesses. Greenbriar looks to identify companies with proven management teams capitalizing on strong long-term growth prospects that can benefit from Greenbriar’s deep sectoral expertise and strategic insight alongside our proven operating capabilities and network of senior executive relationships. For more information, visit www.greenbriarequity.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 Advisors LLC, a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, Member FINRA and SIPC.