Barings Leads $200 Million Senior Debt Financing for Kian Capital Partners’ Recapitalization of SPATCO

July 25, 2024 at 09:00 AM EDT

Barings, one of the world’s leading investment managers, today announced it has served as lead senior agent to provide $200 million in committed senior debt financing to support Kian Capital Partners’ (“Kian”) sale of SPATCO Energy Solutions (“SPATCO” or “the Company”) into a single-asset continuation fund investment vehicle managed by Kian.

“Barings is pleased to continue our partnership with Kian, with which we have completed multiple financings, and to support their portfolio company SPATCO in the next chapter of the Company’s growth,” said Scott Chappell, Managing Director in Barings’ Global Private Finance Group. “We are impressed by SPATCO’s long-tenured, market leading position, and mission critical offerings within the fueling station infrastructure space.”

“We appreciate Barings’ dependability, solutions’ orientation, and ability to scale alongside SPATCO,” said Jordan Lee, Partner at Kian. “We are confident that there is a long runway ahead of SPATCO, and our shared vision for the future of the platform will further solidify the business as the industry’s service partner of choice.”

This transaction expands Barings’ $32.78 billion* Global Private Finance platform, which leverages a deep bench of more than 80 investment professionals and a 30-year track record of providing financing solutions to sponsors while generating attractive risk-adjusted returns for investors.

About Barings:

Barings is a $406+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.

*Assets under management as of March 31, 2024

About Kian Capital Partners:

At Kian, we forge partnerships to ignite growth and build enduring value. Our goal is to provide flexible financial resources and additional operational horsepower to scale lower-middle-market businesses, realize aspirations and deliver long-term investment returns through genuine partnership. Proud to be recognized on Inc.’s Founder-Friendly Investors list for three consecutive years, Kian is a private investment firm with $1 billion of capital under management and a focus on four core industry sectors: consumer, services, value-added distribution and specialty manufacturing. Our team of seasoned investors has over 100 years of collective experience providing transformational capital solutions and board-level strategic and operational guidance to founder/owner operated businesses. To learn more, visit www.kiancapital.com.

About SPATCO Energy Solutions:

Headquartered in Charlotte, North Carolina, with 33 offices and 1,000 team members, SPATCO is a leading sales, service and maintenance, installation, and compliance provider to fueling infrastructure providers across the United States. The company is one of Dover Fueling Solutions’ largest distributors of Wayne products and offers complete environmental compliance, assessment and remediation services. With almost 90 years of experience, SPATCO employs a differentiated service-oriented model on behalf of a diverse and longstanding customer base that includes retail, industrial, commercial fleet and electric vehicle charging and fueling companies. To learn more, visit www.spatco.com.