New York, NY, October 10, 2019 – Churchill Asset Management (“Churchill”) today announced that it served as Administrative Agent for a senior secured credit facility to support the acquisition of VitalSmarts, LC (“VitalSmarts” or the “Company”) by Leeds Equity Partners, LLC (“Leeds Equity”).
Founded in 1989, and headquartered in Provo, UT, VitalSmarts is a market-leading provider of communication, execution and leadership development training. VitalSmarts’ training philosophy involves turning research-based behavioral science principles into learnable, repeatable skills.
“VitalSmarts is a leading name in the field of professional talent development, and the impact of the Company’s training offerings has benefited a wide range of organizations,” said Randy Schwimmer, Senior Managing Director and Head of Origination & Capital Markets at Churchill. “VitalSmarts has a strong record of revenue growth since its inception, and we are excited to work alongside Leeds Equity in supporting VitalSmarts’ continued success.”
The transaction represents the second financing that the Churchill platform has led in support of Leeds Equity in the last 12 months. Founded in 1993, Leeds Equity is a leading New York-based private equity firm dedicated exclusively to partnering with management teams in the education, training and information services industries.
“Our previous experience working with Churchill, as well as their deep industry knowledge and compelling financing solution, made the team an ideal partner to support our acquisition of VitalSmarts,” said Eric Geveda, Managing Director at Leeds Equity. “We are appreciative of their solid execution on this transaction.”
About Churchill Asset Management LLC
Based in New York, Churchill Asset Management LLC, a majority-owned affiliate of Nuveen (the asset manager of TIAA) is a leading provider of senior and unitranche debt financing for middle market companies, particularly those backed by top-tier private equity sponsors. Churchill has $6.8 billion of committed capital under management and has broad experience in all aspects of the middle market financing business, including origination, structuring, credit analysis, syndication, and deal monitoring and oversight. More information can be found at www.churchillam.com.
About Leeds Equity Partners
Leeds Equity Partners, LLC, is a New York-based private equity firm dedicated exclusively to partnering with management teams in the education, training and information services industries (the “Knowledge Industries”). The firm was founded in 1993 and has deployed $2.7 billion of capital across a broad spectrum of companies within the Knowledge Industries. Leeds Equity seeks to leverage its sector-focused expertise and market insights to create long-term value for its partner companies.
For additional information on Leeds Equity, see https://www.leedsequity.com/
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Churchill Asset Management is a registered investment advisor and majority-owned, indirect subsidiary of Teachers Insurance and Annuity Association of America. Certain Nuveen products are advised by Nuveen Alternatives Advisers LLC, a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, Member FINRA and SIPC.
Investments in middle market loans are subject to certain risks. Please consider all risks carefully prior to investing in any particular strategy. These investments are subject to credit risk and potentially limited liquidity, as well as interest rate risk, currency risk, prepayment and extension risk, and inflation risk.
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