NEW YORK, Oct. 23, 2023 - Oak Hill Advisors ("OHA") served as a Lead Arranger for the unitranche financing to fund Bain Capital Private Equity's ("Bain Capital") acquisition of Harrington Industrial Plastics ("Harrington") from Nautic Partners. Harrington is a leading specialty distributor of industrial flow control process solutions and serves vendors in a wide variety of end markets, including water and wastewater management, chemicals, manufacturing, life sciences and food and beverage processing.
OHA sourced this transaction through its strategic direct lending partnership with BMO Capital Markets ("BMO"), which includes over $1 billion to invest in jointly originated senior secured private credit assets. The combination of BMO's broad investment banking platform and OHA's private credit expertise has delivered enhanced deal flow and financing flexibility while adding value for borrowers and private equity sponsors.
"We are pleased to partner with Bain Capital and BMO to support the continued success of Harrington as a leader in the specialty distribution industry and advance its ability to deliver mission-critical offerings to its diverse customer base," said Eric Muller, Portfolio Manager and Partner at OHA.
About OHA: OHA is a leading global alternative investment firm specializing in private lending, distressed credit, structured credit, real assets, special situations, leveraged loans and high yield bonds. OHA manages approximately $61 billion of capital across credit strategies in pooled funds, collateralized loan obligations and single investor mandates as of June 30, 2023. The firm's global, primarily institutional investor base includes pension funds, sovereign wealth funds, insurance companies, foundations, endowments, fund of funds, family offices and high net worth individuals. OHA is the private markets platform of T. Rowe Price Group, Inc. (NASDAQ – GS: TROW). For more information, please visit oakhilladvisors.com.
About Harrington: Harrington has been a leading distributor of industrial process solutions since 1959. With a national presence, Harrington distributes and fabricates products that move fluids in corrosive and high-purity process applications. Products include thermoplastic pipes, valves, fittings, tanks, tubing and hose, pumps, filtration, and instrumentation. Harrington has achieved above-industry growth for decades through a relentless focus on customer service and bringing expertise to the table for customers and suppliers. The success of Harrington is built upon a clear set of operating principles which equally value customers, suppliers, and employees. For more information on Harrington visit www.hipco.com.
About Bain Capital Private Equity: Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity's global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. Since its inception, the firm has made primary or add-on investments in more than 1,150 companies. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $175 billion in total assets and leveraging the firm's shared platform to capture opportunities in strategic areas of focus. For more information, please visit: https://www.baincapitalprivateequity.com/.
SOURCE OHA
