Charlotte, NC, January 26, 2021 – Churchill Asset Management (“Churchill” or the “Firm”) today announced a direct investment in Transtar Holding Company (“Transtar” or the “Company”) in support of Blue Point Capital Partners, LLC (“Blue Point”) acquisition of the Company. Transtar, based in Cleveland, OH, is the largest distributor of aftermarket driveline/transmission components in the United States. The Company’s scale offers a broad portfolio of quality and proprietary products, customer-centric delivery model and self-service transend eCommerce platform.
“Blue Point’s distribution expertise coupled with Transtar’s strong reputation in the transmission aftermarket will create robust growth opportunities,” said David McManama, Principal on the private equity & junior capital team at Churchill. “We are excited to once again partner with Blue Point on an opportunity that has a market-leading platform in a stable industry.”
This represents the fourth transaction Churchill’s private equity & junior capital team has completed in support of Blue Point, a private equity firm managing over $1.5 billion in committed capital.
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 Blue Point Capital Partners
Blue Point is a private equity firm managing over $1.5 billion in committed capital. With offices in Cleveland, Charlotte, Seattle and Shanghai, Blue Point’s geographical footprint allows it to establish relationships with local and regional entrepreneurs and advisors, while providing the perspectives and resources of a global organization. Blue Point has over a two-decade history of partnering with lower middle-market businesses to build processes and capabilities to achieve dramatic growth. The Firm focuses on opportunities where it can leverage its collective experience, extensive network of operating resources and unique toolkit, which includes supply chain/Asian capabilities, data and digital strategies, human capital strategy and focused add-on acquisition efforts. Blue Point typically invests in businesses that generate between $25 million and $300 million in revenue. More information can be found at www.bluepointcapital.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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