Churchill’s Private Equity & Junior Capital team completes direct investment alongside Wellspring Capital Management in Caring Brands International

Charlotte, NC, November  8, 2021 – Churchill Asset Management (“Churchill”) today announced a direct investment in support of Wellspring Capital Management (“Wellspring”) in their acquisition of Caring Brands International (“Caring Brands” or the “Company”). One of the largest global home health franchisors, Caring Brands provides the full continuum of home-based care across personal care, skilled home health, hospice and healthcare staffing. Founded in 1965 and with over 300 employees across its three brands, the Company operates in the U.S., U.K., Ireland and Australia with over 600 locations and 500,000 patients served.

“We are excited to partner with Wellspring to help Caring Brands drive their next phase of growth,” said Dodson Worthington, a Principal on Churchill’s Private Equity & Junior Capital team. “Caring Brands has a proven track record of success across multiple reimbursement and market cycles and is well positioned to capitalize on the current market opportunity.”

This represents the fourth transaction Churchill’s Private Equity & Junior Capital team has completed in support of Wellspring Capital Management, a private equity firm that invests in businesses with highly qualified and motivated senior management teams.

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 $33 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 100 professionals in New York, Charlotte and Chicago. More information can be found at www.churchillam.com.

About Wellspring Capital Management

Wellspring Capital Management is a leading private equity firm headquartered in New York. Since its founding in 1995, Wellspring has raised over $4.5 billion of initial capital commitments through six private equity funds. In total, Wellspring’s current portfolio companies employ nearly 60,000 people around the world and generated aggregate revenues in excess of approximately $4.5 billion in the last 12 months.¹ Over the past 25 years, Wellspring has invested in over 45 platform investments across various segments of the U.S. and global economies. Wellspring’s objective is to bring partnership, experience and value creation to each investment. By teaming up with strong management, Wellspring seeks to unlock underlying value and pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. The firm functions as a strategic partner, providing management teams with top-line support, M&A experience, financial expertise and access to resources. For additional information, please visit www.wellspringcapital.com.

Note 1: As of 12/31/2020

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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.

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Churchill Asset Management
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The material is for informational purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons. Past performance does not guarantee future results. Please note investments in middle market loans are subject to various risk factors, including credit risk, liquidity risk and interest rate risk. Churchill Asset Management LLC is a majority-owned subsidiary and member of the TIAA group of companies.