NEW
YORK, Feb. 5, 2025 /PRNewswire/ -- Overland
Advantage ("Overland"), a business development company with a
differentiated direct lending approach that benefits from a
strategic relationship between Centerbridge Partners and Wells
Fargo, announced today that it served as sole lead arranger and
book-runner for a $215.0 million
credit facility in support of a new loan origination to facilitate
the ongoing growth of FFF Enterprises, Inc. ("FFF"), a
founder-owned company. In connection with the transaction, Wells
Fargo continues to lead a $904.0
million Wells Fargo-agented asset-based loan.
FFF has been recognized as the nation's most trusted specialty
drug distributor and diversified healthcare company since 1988.
"We are excited to partner with Overland, and we believe that
the flexibility of the capital that was provided will enable FFF to
focus on opportunities to expand our product offerings, grow our
specialty distribution capabilities into new markets, and
ultimately, support the overall healthcare ecosystem," said
Patrick M. Schmidt, chief executive
officer of FFF Enterprises.
"We are very pleased to support FFF," said Gavin Baiera, CEO and Trustee of Overland
Advantage and Senior Managing Director at Centerbridge. "We have
been a leading investor in healthcare businesses and providing an
innovative financing solution through Overland highlights our
capability and desire to support growing, founder-owned
businesses."
Kurt Marsden, head of Wells Fargo
Capital Finance, shared, "Providing long-time clients like FFF
Enterprises with seamless access to private credit solutions
through Overland and our leading asset-based lending platform gives
them a broader set of options to pursue their goals, complementing
our comprehensive suite of financial services including treasury
management and investment banking."
About FFF Enterprises, Inc.
Founded in 1988, FFF Enterprises, Inc. is a privately held,
multibillion-dollar specialty pharmaceutical distributor and
diversified healthcare company. FFF Enterprises is the parent
company to Nufactor, Inc., a specialty infusion
company, InCircle, LLC, and RightNow
Inventory.™ Our partners include global pharmaceutical
and biologics manufacturers, prestigious healthcare systems, large
and independent retail pharmacies, and leading alternate care
sites. Our nationwide commerce is supported by a network of
distribution and infusion pharmacy locations utilizing world-class
technology and cybersecurity solutions.
For more information about FFF Enterprises, please visit
its news
site, LinkedIn, X, Facebook, Instagram, and YouTube.
About Overland Advantage
Overland provides innovative lending solutions to founder,
family and sponsor-owned middle market companies in North America and allows businesses to pursue
their most important strategic goals.
Overland benefits from a strategic relationship between
Centerbridge Partners and Wells Fargo, a leading commercial bank in
the U.S. Overland borrowers can benefit from more seamless access
to Wells Fargo's differentiated treasury management, investment
banking services and senior bank capital and Centerbridge's leading
private and alternative credit investment capabilities. Overland
offers a unique, relationship-driven solution to meet the capital
needs of privately owned middle market businesses, many of which
have limited connectivity to private credit solutions.
Overland is managed by Overland Advisors Holdings, LLC, a
Delaware limited liability
company, which is a controlled affiliate of Centerbridge and in
which Wells Fargo has a significant, non-controlling minority
equity investment.
For more information about Overland, visit
www.overland-advantage.com.
About Centerbridge
Centerbridge Partners, L.P. is a private investment management
firm employing a flexible approach across investment disciplines —
Private Equity, Private Credit and Real Estate — in an effort to
develop the most attractive opportunities for its investors. The
firm was founded in 2005 and as of December
31, 2024, has approximately $40
billion in assets under management with offices in
New York and London. Centerbridge is dedicated to
partnering with world-class management teams across targeted
industry sectors and geographies.
For more information, please visit www.centerbridge.com |
LinkedIn.
About Wells Fargo
Wells Fargo & Company
(NYSE: WFC) is a leading financial services company that has
approximately $1.9 trillion in
assets. We provide a diversified set of banking, investment and
mortgage products and services, as well as consumer and commercial
finance, through our four reportable operating segments: Consumer
Banking and Lending, Commercial Banking, Corporate and Investment
Banking, and Wealth & Investment Management. Wells Fargo ranked No. 34 on Fortune's 2024 rankings
of America's largest corporations. In the communities we serve, the
company focuses its social impact on building a sustainable,
inclusive future for all by supporting housing affordability, small
business growth, financial health, and a low-carbon economy. News,
insights, and perspectives from Wells Fargo are also available at
Wells Fargo Stories.
Contacts
Kekst CNC
Jeremy Fielding / Anntal Silver / Daniel Hoadley
overland@kekstcnc.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/overland-advantage-and-wells-fargo-lead-senior-secured-credit-facilities-to-fff-enterprises-inc-302368800.html
SOURCE Overland Advantage
