Charlotte, NC, February 1, 2022 – Churchill Asset Management (“Churchill”) today announced a direct investment in support of Sentinel Capital Partners in their recapitalization of UBEO Business Services (“UBEO” or the “Company”). UBEO is a national provider of printer, copier, and other office equipment sales and services. The Company operates a stable, recurring business model with contractual revenue streams and a diversified customer base. In a fragmented marketplace with few scaled providers, UBEO has positioned itself as a consolidator of choice with a successful history of growth through M&A.
“UBEO is a market-leading printer dealer and aftermarket services provider with strong differentiating factors including service quality, breadth of service offering and scale,” said Michael Chiulli, a Principal on Churchill’s Private Equity & Junior Capital team. “With a proven ability to drive both organic and inorganic growth, we see significant opportunity in this partnership with Sentinel Capital Partners.”
This represents the ninth transaction Churchill’s Private Equity & Junior Capital team has completed in support of Sentinel Capital Partners, a private equity firm that invests in lower middle market businesses in North America.
About Churchill Asset Management LLC
Churchill, an investment-specialist affiliate of Nuveen (the asset manager of TIAA), provides customized financing solutions to middle market private equity firms and their portfolio companies across the capital structure. With $37 billion of committed capital, Churchill provides first lien, unitranche, second lien and mezzanine debt, in addition to equity co-investments and private equity fund commitments. Churchill has a long history of disciplined investing across multiple economic cycles and our unique origination strategy, best in class execution and investment are driven by more than 100 professionals in New York, Charlotte and Chicago. More information can be found at www.churchillam.com.
About Sentinel Capital Partners
Sentinel Capital Partners (“Sentinel” or the “Firm”) is one of the nation’s leading lower middle market private equity firms. Sentinel invests in management buyouts, acquisitions of family businesses, corporate divestitures, industry consolidations, and going-private transactions in the United States and Canada. The Firm also invests in special situations, including balance sheet restructurings and operational turnarounds. Sentinel forges partnerships with talented management teams who want to be owners of the companies they operate. Based in New York City, Sentinel has raised approximately $6.0 billion of capital since inception. For more information, please visit https://www.sentinelpartners.com/.
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This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Financial professionals should independently evaluate the risks associated with products or services and exercise independent judgment with respect to their clients.
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.
Private equity investments are subject to certain risks. Please consider all risks carefully prior to investment 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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