Charlotte, NC, January 26, 2021 – Churchill Asset Management (“Churchill” or the “Firm”) today announced a direct investment in Safety Products Holdings, Inc. (“SPH” or the “Company”) in support of Bertram Capital’s (“Bertram”) acquisition of the Company. SPH is a market leading manufacturer and distributor of cutting tools with a #1 market share in North America. Headquartered in Oak Brook, IL, the Company sells cutting tools and razor blades to business customers for use in their “back of house” warehouses, distribution centers, and retail environments.
“Safety Products’ differentiated business model as the only U.S.-based vertically integrated provider of cutting tools will provide numerous organic and M&A growth opportunities,” said Derek Fricke, Principal on the private equity & junior capital team at Churchill. “We are excited to once again partner with Bertram Capital on an opportunity where they can utilize their experience of accelerating growth driving operational improvements.”
This represents the fifth transaction Churchill’s private equity & junior capital team has completed in support of Bertram Capital, a Silicon Valley, CA based private equity firm focused on lower middle market buyout transactions.
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 Bertram Capital
Bertram Capital is a Silicon Valley, CA based private equity firm focused on lower middle market buyout transactions with a demonstrated focus of accelerating growth and driving operational improvements through investment in the business and optimizing operations via the use of technology. Since its inception in 2006, Bertram Capital has raised over $1.7 billion of capital commitments. More information can be found at www.bertramcapital.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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