CHARLOTTE, N.C., Aug. 24, 2017 (GLOBE NEWSWIRE) -- Barings, one of the world’s leading asset management firms, announced today that it served as co-lead arranger of a second-lien credit facility to support global private equity firm Warburg Pincus in its acquisition of MSHC Inc. from Sterling Investment Partners. Barings also participated in providing a senior-secured credit facility and a revolving credit facility to Service Logic. Barings previously provided subordinated debt and an equity co-investment to support Sterling’s investment in Service Logic in 2012.
Service Logic, headquartered in Charlotte, N.C., is the largest independent provider of aftermarket maintenance, repair and replacement services for commercial HVAC equipment, chilled water systems, and building automation and control systems. The company is comprised of leading HVAC service businesses in 34 markets across the United States.
“Barings is excited to work alongside Warburg Pincus to continue supporting the growth of a company we have come to know and respect greatly over the past five years,” said Scott Chappell, Managing Director in Barings’ Global Private Finance Group. “We have been impressed with the results that the Service Logic management team has achieved as they’ve transformed the firm into a national market leader, and we are confident the company will benefit from the deep experience and success Warburg Pincus brings in building businesses of scale.”
About Barings LLC
Barings is a $288 billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. A member of the MassMutual Financial Group, Barings maintains a strong global presence with over 600 investment professionals and offices in 16 countries. Learn more at www.barings.com.