Charlotte, NC, March 11, 2021 – Churchill Asset Management (“Churchill”) today announced a direct investment in TPC Wire & Cable Corp. (“TPC”) in support of Audax Private Equity’s (“Audax”) acquisition initiatives. TPC is a provider of premium, custom cable and connectivity solutions for high cost of failure applications serving various end-markets, including military/aerospace, utility/steel, and automotive. Headquartered in Macedonia, OH, TPC produces engineered solutions by creating specific products that lower customers’ total cost of ownership and minimize downtime in harsh environments.
“TPC is a market leader in specialty wire and cable solutions. Their unique position in a large and highly fragmented market has made them an acquirer of choice,” said Anne Philpott, Principal on Churchill’s private equity & junior capital team. “Audax has a strong track record of value creation through effective organic and inorganic growth strategies, and we are proud to support them on this next phase of international expansion.”
This represents the 15th transaction Churchill’s private equity & junior capital team has completed in support of Audax, a Boston-based PE firm focused on a Buy & Build investment strategy that transforms companies through accelerated organic growth and add-on acquisitions.
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 $29 billion of committed capital, Churchill provides 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 AUDAX PRIVATE EQUITY
Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $27 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $6 billion in more than 135 platforms and over 925 add-on companies, and is currently investing out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 250 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Private Equity website www.audaxprivateequity.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 Advisers LLC, a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, Member FINRA and SIPC.
Investments in middle market loans are subject to certain risks. Please consider all risks carefully prior to investing in any particular strategy. These investments are subject to credit risk and potentially limited liquidity, as well as interest rate risk, currency risk, prepayment and extension risk, and inflation risk.
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