Babson Capital Backs River Capital’s Investment In Blue Wave Products
November 28 2012 - 8:51AM
Business Wire
Babson Capital Management LLC, a global investment management
firm with more than $154 billion in assets under management and
operations on four continents, today announced it provided a
combination of senior debt and subordinated debt and equity to
support River Capital’s purchase of Blue Wave Products Inc.
Babson Capital served as the sole provider of senior and
subordinated debt on the transaction.
Saint Charles, Ill.-based Blue Wave is a leading niche
distributor of above-ground swimming pools, pool accessories and
other products to internet dealers and the internet channels of
large national retailers. Blue Wave serves as a one-stop shop
offering more than 6,000 wholesale recreational products including
pools, automatic cleaners, steps and ladders, winter products,
games and saunas.
“As a reliable partner on eight portfolio investments spanning
more than 25 years, Babson Capital consistently provides River
Capital with a combination of experience and service that is
difficult to match,” said Jerry Wethington, Managing Principal of
River Capital. “River Capital looks forward to working with the
Babson Capital team on Blue Wave and other investment opportunities
going forward.”
“Babson Capital’s partnership-oriented approach to investing in
the middle market is exemplified by our longstanding and valued
relationship with River Capital,” said Mike Klofas, Managing
Director and head of Babson Capital’s Mezzanine & Private
Equity Group. “Blue Wave has built a leadership position in a niche
market with its broad product offering, quick turnaround times, and
strong customer service, and we are excited about its growth
potential as it benefits from the operating experience of River
Capital.”
About River Capital
River Capital, founded in 1983, is an Atlanta-based private
investment firm which provides capital for management buyouts,
recapitalizations and the growth capital needs of well-established
middle market companies. Most often, we invest in transactions with
purchase prices of $10 million to $50 million. River Capital is one
of the oldest and most experienced firms of its type in the
Southeast and has acquired or invested in companies in a broad
range of industries with combined revenues of $600 million. For
more information, please visit www.rivercapital.com.
About Babson Capital
Babson Capital Management LLC and its subsidiaries serve
institutional investors around the globe and have over $154 billion
in assets under management as of September 30, 2012. Through
proprietary research and a focus on investment fundamentals, we
develop products and strategies that leverage our broad array of
expertise in global corporate debt markets, structured products,
debt and equity financing for commercial real estate, and
alternatives. Headquartered in Boston, the firm’s subsidiaries
include Cornerstone Real Estate Advisers LLC and Wood Creek Capital
Management, LLC. Babson Capital is a member of the MassMutual
Financial Group and is on the web at www.BabsonCapital.com.
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