Charlotte, NC, March 26, 2021 – Churchill Asset Management (“Churchill”) today announced a direct investment in GPRS Holdings, LLC (“GPRS” or the “Company”) in support of Kohlberg & Company, LLC (“Kohlberg”). GPRS is the largest U.S. provider of private utility locating and structural scanning services. The Company employs ~300 technicians who use ground penetrating radar and other technologies to locate and map subsurface utility infrastructure prior to digging, decreasing the likelihood of costly damages for their customers.
“GPRS is the only national player of scale in a fast-growing, underpenetrated market that fits squarely within Kohlberg’s Infrastructure Services practice area,” said Derek Fricke, Managing Director of Churchill’s Private Equity & Junior Capital team. “We look forward to supporting Kohlberg as they continue to realize the benefits of their resilient and compelling business model.”
This represents the seventh transaction Churchill’s Private Equity & Junior Capital team has completed in support of Kohlberg, a New York-based middle market private equity firm focused on taking control positions in market leading assets.
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 Kohlberg & Company
Kohlberg is a New York-based leading private equity firm with over 30 years of successful experience executing transformational strategies enabling middle market companies to enhance business efficiency, breadth, growth and scale. Since inception, Kohlberg has raised 9 private equity funds with $11 billion of aggregate commitments and has made 84 primary platform investments. More information can be found at https://www.kohlberg.com/firm/.
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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.