July 25, 2023
Platinum Equity Credit Team Announces Financing to Support Acquisition of Tom Barrow Company
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LOS ANGELES, July 25, 2023 — Platinum Equity announced today it provided an unsecured term loan to the Tom Barrow Company in connection with Ardian’s recent acquisition of a majority stake in the business.
Tom Barrow is a leading supplier of design-assist engineering and manufacturers’ representation services to the commercial HVAC industry across healthcare, life sciences, education, government, industrial and other commercial end markets. Tom Barrow offers a comprehensive range of HVAC product lines, including custom air handling units, packaged equipment, precision cooling equipment, air distribution, fans, sheet metal products and a variety of other specialty applied equipment and commercial components.
“We are pleased to have provided Tom Barrow a financing solution in a very complex market for borrowers,” said Platinum Equity Co-President Louis Samson. “We know the business and the sector well and have a lot of experience helping companies grow while navigating changing economic cycles. We believe our operations-intensive model puts us in a unique position to underwrite these types of credit investments.”
The Tom Barrow financing is led by Platinum Equity’s dedicated credit team, which seeks opportunities to provide debt capital to companies for a variety of uses, including acquisitions, refinancings and recapitalizations.
“We are pleased to have provided Tom Barrow a financing solution in a very complex market for borrowers. We know the business and the sector well and have a lot of experience helping companies grow while navigating changing economic cycles. We believe our operations-intensive model puts us in a unique position to underwrite these types of credit investments.”
“We want to forge real partnerships with borrowers where we can add material value to the company’s growth ambitions,” said Platinum Equity Managing Director and Global Head of Credit Michael Fabiano. “Tom Barrow Company is a great fit with an attractive financial profile, an experienced and capable management team, and it operates in a market with strong tailwinds.”
Founded in 1955 and headquartered in Atlanta, Georgia, Tom Barrow has ten locations across Georgia, Florida, Tennessee and Alabama, with approximately 240 employees.
Platinum’s credit team targets companies that generally have $15 to $75 million of EBITDA and are primarily based in North America.
“Our credit team is actively looking for more opportunities to put our financial and operational expertise to work,” added Mr. Fabiano.
Truist Securities, Inc. served as exclusive financial adviser to Tom Barrow. Configure Partners served as financing advisor to Ardian.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 28 years Platinum Equity has completed more than 400 acquisitions and debt financings.
