Churchill Serves as Sole Lead Arranger for a Senior Secured Financing Facility to Support Add-on Acquisition for LRN Corporation, a Portfolio Investment of Leeds Equity Partners

New York, NY, September 14, 2020 – Churchill Asset Management (“Churchill” or the “Firm”) today announced that it served as Sole Lead Arranger for a senior secured credit facility to support the acquisition of Interactive Services by LRN Corporation (“LRN” or the “Company”), a portfolio investment of Leeds Equity Partners (“Leeds”).

The combination of LRN with Dublin, Ireland-based Interactive Services enriches the company’s offerings through more custom solutions, additional analytics and a broader and deeper library of content. The combined company’s comprehensive ethics and compliance offering which includes education, technology, advisory services and analytics enables organizations to successfully navigate the complex legal, compliance, regulatory, and operating environments across the globe.

“With a 25-year history as a market leader in ethics and compliance, LRN is well positioned to continue to address the growing shift toward corporate responsible behavior through its partnership with Interactive Services,” said Randy Schwimmer, Senior Managing Director and Head of Origination & Capital Markets, Senior Lending at Churchill. “We are excited to partner with Leeds Equity once again on this transaction and look forward to the continued success of LRN.”

Churchill has provided senior secured financing facilities in support of several investments by New York City-based Leeds Equity Partners. With $2.5 billion of capital under management, Leeds Equity is the largest private equity firm with an exclusive focus on the “Knowledge” sector, which is comprised of the education, training, and information services industries.

“Given the Churchill team’s ability to provide a streamlined, tailored solution in an expedited timeframe during our initial investment in LRN, we were pleased to work with the team once again on this transaction” said Kevin Malone, Principal at Leeds Equity Partners. “We look forward to our continued partnership, on this deal and others 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 $24 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 Leeds Equity Partners

Leeds Equity Partners, LLC, is a New York-based private equity firm dedicated exclusively to partnering with management teams in the education, training and information services industries. The firm was founded in 1993 and currently manages $2.5 billion of capital across a broad spectrum of companies within the knowledge industries.  Leeds Equity seeks to leverage its sector-focused expertise and market insights to create long-term value for its portfolio companies.

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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 Advisers 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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Churchill Asset Management
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Email
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The material is for informational purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons. Past performance does not guarantee future results. Please note investments in middle market loans are subject to various risk factors, including credit risk, liquidity risk and interest rate risk. Churchill Asset Management LLC is a majority-owned subsidiary and member of the TIAA group of companies.