Oak Hill Advisors arranges financing for FloWorks, supporting debt refinancing and future acquisitions in the flow control industry.
Quiver AI Summary
Oak Hill Advisors (OHA) acted as the Administrative Agent and Lead Left Arranger for a private unitranche financing facility for FloWorks, a specialty distributor of critical flow control products and a portfolio company of Wynnchurch Capital. OHA is the predominant holder of this financing, which aims to refinance FloWorks' existing debt and fund future acquisitions. OHA's familiarity with the flow control distribution sector, gained through investments in similar companies, enabled them to swiftly assess and lead the refinancing process. Eric Muller, a Partner at OHA, highlighted FloWorks' successful business model and growth potential. BMO Capital Markets also participated in this financing as OHA's joint venture partner.
Potential Positives
- OHA served as Administrative Agent and Lead Left Arranger for a significant private unitranche financing facility, showcasing its leadership and expertise in structuring complex financial solutions.
- As the largest holder in the new financing facility, OHA strengthens its position and influence within the financial backing of FloWorks, increasing its investment footprint.
- The financing will support FloWorks in refinancing existing debt and potentially facilitate future acquisitions, indicating a positive growth trajectory for both FloWorks and OHA in the industry.
- OHA's familiarity with the specialty distribution industry through previous investments highlights its capability to make informed decisions and contribute to the growth of its portfolio companies.
Potential Negatives
- The press release highlights that OHA is refinancing FloWorks' existing debt, which may indicate underlying financial instability or challenges faced by FloWorks prior to this financing.
- The reliance on a private unitranche facility for refinancing could suggest limited access to traditional financing options, raising concerns about FloWorks' financial health and creditworthiness.
FAQ
What is the role of Oak Hill Advisors in the FloWorks financing?
Oak Hill Advisors served as Administrative Agent and Lead Left Arranger for the private unitranche facility supporting FloWorks.
What will the financing be used for?
The financing will refinance FloWorks' existing debt and support future acquisitions.
Who are the partners in this financing deal?
OHA partnered with BMO Capital Markets in this financing through their private credit joint venture.
What industry does FloWorks operate in?
FloWorks is a specialty distributor of critical flow control products for MRO-focused applications across various industrial markets.
What is the investment strategy of Wynnchurch Capital?
Wynnchurch Capital specializes in partnering with middle-market companies for substantial growth and profit improvement through various strategies.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$TROW Insider Trading Activity
$TROW insiders have traded $TROW stock on the open market 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.
Here's a breakdown of recent trading of $TROW stock by insiders over the last 6 months:
- JESSICA M HIEBLER (Principal Accounting Officer) has traded it 2 times. They made 0 purchases and 2 sales, selling 1,885 shares.
- ANDREW JUSTIN MACKENZIE THOMSON (Vice President) sold 11,969 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$TROW Hedge Fund Activity
We have seen 480 institutional investors add shares of $TROW stock to their portfolio, and 534 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC added 1,054,461 shares (+7992.0%) to their portfolio in Q3 2024
- NORGES BANK added 669,122 shares (+89.1%) to their portfolio in Q2 2024
- JPMORGAN CHASE & CO added 585,768 shares (+96.0%) to their portfolio in Q3 2024
- STATE STREET CORP removed 482,143 shares (-3.3%) from their portfolio in Q3 2024
- BLACKROCK, INC. added 458,123 shares (+2.3%) to their portfolio in Q3 2024
- QUBE RESEARCH & TECHNOLOGIES LTD added 447,532 shares (+inf%) to their portfolio in Q3 2024
- INVESCO LTD. added 401,080 shares (+20.5%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
New York, New York, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Oak Hill Advisors ("OHA") served as Administrative Agent and Lead Left Arranger for the private unitranche facility supporting FloWorks, a portfolio company of Wynnchurch Capital, L.P. ("Wynnchurch"). FloWorks is a leading specialty distributor of critical flow control products and provider of tailored technical solutions for MRO-focused applications. OHA is the largest holder across the new financing facility, which will be used to refinance the company's existing debt and support future acquisitions.
OHA's existing knowledge of the flow control distributor industry through its investments across other companies in the ecosystem positioned it to quickly provide constructive feedback and play a leadership role in this refinancing solution.
"Our familiarity with the specialty distribution industry through our investments in similar companies allowed us to quickly gain conviction in FloWorks and its business model," said Eric Muller, Partner and Portfolio Manager at OHA. "The track record the company has built through its customized platform has proven its ability to gain significant market share while continuing to scale, and we look forward to contributing to FloWorks' next stages of growth."
BMO Capital Markets also participated in this financing as OHA's private credit joint venture partner.
###
About OHA:
Oak Hill Advisors (OHA) is a leading global credit-focused alternative asset manager with over 30 years of investment experience. OHA works with institutions and individuals and seeks to deliver a consistent track record of attractive risk-adjusted returns. The firm manages approximately $71 billion of capital across credit strategies, including private credit, high yield bonds, leveraged loans, stressed and distressed debt and collateralized loan obligations as of September 30, 2024. OHA's emphasis on long-term partnerships with companies, sponsors and other partners provides access to a proprietary opportunity set, allowing for customized credit solutions across market cycles.
With over 400 experienced professionals across six global offices, OHA brings a collaborative approach to offering investors a single platform to meet their diverse credit needs. OHA is the private markets platform of T. Rowe Price Group, Inc. (NASDAQ – GS: TROW). For more information, please visit
oakhilladvisors.com
.
About FloWorks:
Headquartered in Houston, Texas, FloWorks is a leading specialty distributor of critical flow control products and provider of tailored technical solutions for MRO-focused applications. The Company serves customers across chemicals, downstream refining & renewables, high purity & sanitary, and other industrial end markets. FloWorks' product categories include valves & automation, corrosion resistant flow control, rotating equipment, flanges, filters & purifiers, and instrumentation. For more information, please visit
gofloworks.com
.
About Wynnchurch:
Wynnchurch, headquartered in the Chicago suburb of Rosemont, Illinois, with an affiliate in Canada, was founded in 1999 and is a leading middle-market private equity investment firm. Wynnchurch's strategy is to partner with middle market companies in the United States and Canada that possess the potential for substantial growth and profit improvement. Wynnchurch manages a number of private equity funds with $9.2 billion of regulatory assets under management and specializes in recapitalizations, growth capital, management buyouts, corporate carve-outs, and restructurings. For more information, please visit:
wynnchurch.com
.