Levine Leichtman Capital Partners Announces Sale of GLAS
Levine Leichtman Capital Partners, known for its strong record in private equity, recently revealed that it has entered a significant agreement to sell its portfolio company, Global Loan Agency Services. This announcement highlights their strategic move towards partnering with Oakley Capital. The financial specifics of this deal have not been disclosed yet, and it awaits the necessary regulatory approvals for completion.
Global Loan Agency Services, commonly referred to as GLAS, has its headquarters in London and is recognized as a leading player in the provision of loan agency and trustee services worldwide. The company offers essential solutions for lenders and borrowers engaged in complex financial structures, particularly in syndicated loans, direct lending, and capital markets transactions. GLAS has built a solid reputation for its innovative approaches to navigating the challenges of global debt markets.
Under the ownership of Levine Leichtman Capital Partners, GLAS has shown remarkable growth. The assets managed by the company have soared from approximately $120 billion in 2021 to an impressive figure exceeding $750 billion today. This growth can be attributed to several factors, including geographic expansion, the introduction of new services, strategic investments in technology aimed at enhancing efficiency and improving client experiences, as well as targeted acquisitions.
Josh Kaufman, a partner and head of LLCP Europe, commented on the remarkable journey of GLAS under their partnership. He expressed pride in supporting Mia Drennan and her dedicated team in their development of GLAS into a market-leading independent loan agency. Kaufman conveyed enthusiasm for GLAS's future with Oakley Capital and the potential for continued success and growth.
Mia Drennan, the founder and CEO of GLAS, also echoed this sentiment, expressing gratitude for LLCP's unwavering support during a phase of rapid growth. Drennan is eager to embrace the partnership with Oakley Capital, looking forward to scaling their operations and solidifying GLAS's position as a leader within the global market.
This transaction marks the second successful exit for the LLCP Europe II SCSp fund, and it reflects the firm’s proficiency in identifying and nurturing high-potential companies.
In this context, Deutsche Bank AG alongside Robert W. Baird Limited acted as joint financial advisors. Additionally, Willkie Farr & Gallagher (UK) LLP was engaged as legal counsel to both LLCP and GLAS throughout the proceedings of this sale.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC is a dedicated middle-market private equity firm with a rich history of over 41 years, invested across a variety of sectors, such as Business Services, Franchising & Multi-unit, Education & Training, and Engineered Products & Manufacturing. Their unique Structured Private Equity investment strategy melds debt and equity investments, facilitating tailored growth capital for management teams. This flexibility often proves to be a more appealing alternative to traditional private equity paths.
LLCP's team comprises seasoned investment professionals, with an average tenure of two decades, led by nine distinguished partners. With a capital management history of about $18.1 billion across nearly 20 funds, they have successfully invested in around 120 portfolio companies. Currently managing approximately $12.6 billion in assets, LLCP maintains a strong presence with office locations in Los Angeles, New York, Chicago, Miami, London, Stockholm, Amsterdam, and Frankfurt.
Frequently Asked Questions
What led to the sale of GLAS?
The sale of GLAS followed its significant growth under Levine Leichtman Capital Partners, with an increase in managed assets from $120 billion to over $750 billion.
Who is the new partner for GLAS?
GLAS has entered a new partnership with Oakley Capital as part of the sale agreement.
What are GLAS's primary services?
GLAS provides loan agency and trustee services, focusing on facilitating complex financial transactions in the global debt markets.
What is Levine Leichtman Capital Partners known for?
LLCP is recognized for its expertise in middle-market investments across multiple sectors using a unique Structured Private Equity strategy.
How does LLCP support its portfolio companies?
LLCP supports its portfolio companies by providing tailored growth capital and helping establish strategic partnerships to enhance their market positions.
