Churchill’s Private Equity & Junior Capital team completes direct investment alongside BPOC in Praxis Packaging Solutions

Charlotte, NC, September 19, 2022 Churchill Asset Management (“Churchill”) announced a direct investment in support of BPOC in its acquisition of Praxis Packaging Solutions (“Praxis” or the “Company”). Praxis is a full-service contract packager specializing in primary solid and liquid filling, as well as secondary packaging, repackaging, serialization and labeling. The Company primarily serves OTC and prescription pharmaceutical, medical device, animal health, and health & beauty customers.

“Praxis has an attractive target market with a differentiated, full-service packaging platform and loyal customer base,” said Anne Philpott, a Managing Director on Churchill’s Private Equity & Junior Capital team. “We believe BPOC is the ideal strategic partner for Praxis and are looking forward to working with their team to enhance Praxis’ market position and capabilities.”

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 $41 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 140 professionals in New York, Charlotte, Chicago, Dallas and Los Angeles. More information can be found at www.churchillam.com.

About BPOC

Founded in 1996, BPOC is a Chicago-based private equity firm that invests exclusively in healthcare companies and is one of the nation’s most experienced investors in the industry having raised five funds with total capital commitments of nearly $1.8 billion. BPOC has invested in numerous providers, manufacturing, outsourcing, distribution and information technology companies through growth equity, management buyouts and leveraged recapitalizations. For more information, please visit https://www.bpoc.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.

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Churchill Asset Management
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