New York, NY, December 9, 2021 – Churchill Asset Management (“Churchill”) today announced that it served as Sole Lead Arranger and Administrative Agent for a $300 million senior secured credit facility in support of Wind Point Partners’ (“Wind Point”) acquisition of good2grow, Inc. (“good2grow” or the “Company”). Churchill was the incumbent lender to the Company, having supported Kainos Capital’s acquisition of good2grow in 2018.
Founded in 2001 and headquartered in Atlanta, GA, good2grow is a wholesaler of juices and healthy children’s beverages. Each beverage is packaged in a proprietary bottle with a spill-proof top and a popular children’s character toy topper, licensed from various partners such as Disney™, Nickelodeon™, Universal™, and others.
“We are very pleased with good2grow’s trajectory of growth and outperformance since Churchill’s initial investment in 2018. The Company continues to enjoy a dominant position in the market, differentiating through its strong brand and content, highly unique packaging and ability to simultaneously appeal to both children and their parents,” said Randy Schwimmer, Senior Managing Director and Co-Head of Senior Lending at Churchill. “We believe good2grow will find continued success as the Company begins a new partnership with the team at Wind Point.”
The financing of good2grow marks the sixth 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.
“Thanks to Churchill’s role as an incumbent lender and their familiarity with good2grow’s business model, we knew we could rely on the team to provide an optimal financing solution in a timely manner,” said Isaiah Sullivan, Vice President at Wind Point. “We look forward to working with Churchill over the course of our new partnership with good2grow.”
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 $33 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.
About Wind Point Partners
Wind Point Partners is a Chicago-based private equity investment firm with approximately $4 billion in assets under management. Wind Point focuses on partnering with top caliber management teams to acquire well-positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products and business services sectors. Wind Point is currently investing out of Wind Point Partners IX, a fund that was initiated in 2019.
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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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