Barings has provided senior secured credit facilities supporting The Edgewater Funds’ acquisition of Parker Manufacturing Group. Barings served as lead agent on the financing. Financial terms were not disclosed.
Parker manufactures highly engineered precision fasteners serving aerospace and defense, semiconductor capital equipment and general industrial customers.
The acquisition advances Edgewater’s strategy of building a larger manufacturer and value-added provider of highly engineered fastening products.
Chicago-based Edgewater has raised more than $4 billion of capital commitments since 2001 and focuses on partnering with entrepreneurs and management teams to accelerate business growth.
Barings manages approximately $502 billion and provides financing across credit, real assets, capital solutions and emerging markets.
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“Edgewater has a long history of partnering with management teams to strengthen and expand aerospace & defense businesses, and we believe Parker is well positioned to benefit from their operational expertise and strategic support. We are pleased to provide this financing and to support Parker’s continued growth.”
Jeff Rabaut, Managing Director In Barings’ North America Direct Lending Group
“Barings was able to get up to speed quickly and was a strong partner throughout the process. Their responsiveness, flexibility, and ability to move efficiently were important to us, and we appreciated their support and commitment throughout the process.”
Jason Kopelman, Principal At The Edgewater Funds
