New York, NY, June 21, 2021 – Churchill Asset Management (“Churchill”) today announced that it served as Sole Lead Arranger and Administrative Agent for a senior secured credit facility to support the refinancing and an add-on acquisition for Sciens Building Solutions (“Sciens” or the “Company”), a portfolio company of Huron Capital Partners (“Huron Capital”).
Founded in 2015 and headquartered in San Francisco, Sciens is an integrated solutions company focused on the design, installation, and provision of maintenance services for fire detection, clean agent fire suppression, and life safety systems for commercial, institutional, and governmental facilities. The Company uses its experts’ collective experience to deliver meaningful solutions and protect its highly diversified base of clients through sophisticated life safety, security, communication, and electrical systems and associated annual service contracts.
“Sciens is in a prime position to capitalize on increasing federal and state regulations related to fire safety. Additionally, the Company’s scaled business platform and longstanding, diverse customer relationships have proven resilient over time,” said Randy Schwimmer, Senior Managing Director and Co-Head of Senior Lending at Churchill. “We are grateful for the opportunity to work with like-minded partners as the Company continues to grow both organically and acquisitively with the support of Huron.”
The financing of Sciens marks the first transaction which Churchill’s senior lending team has completed in support of Huron Capital. Huron Capital is a Detroit-based leading lower middle-market private equity platform that has raised nearly $2.0 billion of committed capital across six funds since 1999.
“We were very pleased with the Churchill team’s ability to move quickly and provide certainty of execution throughout the refinancing of Sciens,” said Brian Rassel, Partner at Huron Capital. “Churchill proved to be a great partner, and we look forward to further building this relationship in the future.”
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 $30 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 Huron Capital
Founded in Detroit in 1999, Huron Capital is an operationally focused private equity platform with a long history of growing lower middle-market companies through our proprietary ExecFactor® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. An early pioneer of the buy-and-build approach, Huron Capital has successfully established six private equity funds aggregating nearly $2.0 billion in committed capital and invested in over 200 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital targets both control and non-control equity stakes in fundamentally-sound companies that can benefit from the Firm’s operational approach to creating value. Huron Capital focuses on niche segments within the business services, consumer products & services and specialty industrials sectors. For more information, please visit: www.huroncapital.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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