Levine Leichtman Capital Partners Sells Global Loan Agency Services
Levine Leichtman Capital Partners (LLCP) has officially announced a significant transaction involving its portfolio company, Global Loan Agency Services (GLAS). The sale to Oakley Capital, a European private investment firm, marks an important milestone for LLCP.
Understanding GLAS and Its Growth
GLAS is recognized as a leading independent provider of loan agency and trustee services in global debt markets. With headquarters established in London, the company has become a vital player in offering essential solutions for both lenders and borrowers. Their services cover a wide array of areas, including syndicated loans, direct lending, and capital markets transactions.
Since LLCP acquired the company, GLAS has experienced remarkable growth. Assets under Administration soared from around $120 billion just a couple of years ago to over $750 billion today. This impressive expansion is attributed to various strategies including geographic reach, introduction of new service offerings, strategic acquisitions, and investments in technology to enhance efficiency and the overall client experience.
Leadership Perspectives During the Transition
In comments surrounding the sale, Josh Kaufman, Partner and Head of LLCP Europe, expressed pride in GLAS's development under LLCP's stewardship. He noted how the company has become a flagship success within LLCP's European portfolio. Kaufman applauded the leadership of Mia Drennan, the Founder and CEO of GLAS, for her instrumental role in steering the company toward becoming a premier independent loan agency provider.
Mia Drennan shared her thoughts on the evolution and future direction of GLAS. She highlighted the invaluable support from LLCP that facilitated the company’s journey through a phase of unprecedented growth. With the transition to Oakley Capital, she expressed enthusiasm about accelerating their position as a global market leader in the loan agency space.
Details Regarding the Sale and Advisors
The transaction's completion is contingent on regulatory approvals, and specifics relating to the financial terms have not been disclosed. This marks the second exit for LLCP Europe II SCSp, illustrating its ongoing commitment to strategic investment and growth.
Deutsche Bank AG and Robert W. Baird Limited acted as joint financial advisors for this deal, while Willkie Farr & Gallagher (UK) LLP provided legal counsel to both LLCP and GLAS.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC has established itself as a formidable middle-market private equity firm, benefitting from a rich 41-year history of investments across various sectors. These include Business Services, Franchising, Education & Training, and Engineered Products & Manufacturing. LLCP employs a unique Structured Private Equity investment strategy that merges debt and equity investments in portfolio companies, offering customized growth capital solutions tailored to the needs of management teams.
With a dedicated global team of investment professionals, LLCP’s leadership comprises nine partners who bring an average of 20 years of experience at LLCP. The firm has successfully managed around $18.1 billion across nearly 20 investment funds, investing in roughly 120 portfolio companies. Currently, LLCP oversees assets totaling approximately $12.6 billion from various offices located in key cities worldwide.
Frequently Asked Questions
What is the recent transaction involving GLAS?
Levine Leichtman Capital Partners has sold Global Loan Agency Services to Oakley Capital.
What services does Global Loan Agency Services provide?
GLAS is an independent provider of loan agency and trustee services in the global debt markets.
How much did GLAS grow under LLCP's ownership?
GLAS's Assets under Administration increased from around $120 billion to over $750 billion.
Who were the advisors involved in the GLAS sale?
Deutsche Bank AG and Robert W. Baird Limited served as financial advisors, while Willkie Farr & Gallagher provided legal counsel.
What investment strategy does LLCP utilize?
LLCP uses a Structured Private Equity investment strategy combining debt and equity capital investments.
