Barings Leads Senior Debt Financing for Long Point Capital’s Investment in BKF Engineers

CHARLOTTE, N.C.--(BUSINESS WIRE)--Sep 23, 2024--

Barings, one of the world’s leading investment managers, today announced that it has served as sole lender to provide senior debt financing and an equity co-investment to support Long Point Capital’s (“LPC") investment in BKF Engineers.

“Barings is excited to partner with Long Point Capital and their portfolio company BKF Engineers as the sole provider of senior term debt for the deal,” said Steve Jarvis, Managing Director in Barings’ Global Private Finance Group. “BKF Engineers is an attractive investment opportunity due to its loyal client base, long-tenured history as an established operator within the AEC industry, and its strong commitment to culture and client service.”

“We are grateful to have secured financing from Barings to support BKF Engineers’ future growth initiatives, including expanding the Company’s client relationships, service offerings, and geographic presence,” said Ira Starr, Partner at LPC.

This transaction expands Barings’ $32.97 billion* Global Private Finance platform, which leverages a deep bench of more than 80 investment professionals ​and a 30-year track record of providing financing solutions to sponsors while generating attractive ​risk-adjusted returns for investors.

About Barings

Barings is a $409+ billion* global asset management firm that partners with institutional, insurance, and intermediary clients, and supports leading businesses with flexible financing solutions. The firm, a subsidiary of MassMutual, seeks to deliver excess returns by leveraging its global scale and capabilities across public and private markets in fixed income, real assets and capital solutions.

*Assets under management as of June 30, 2024

About BKF Engineers

Headquartered in Oakland, CA, BKF Engineers is a full-service engineering firm that provides specialty services to a variety of public and private clients. Since 1915, BKF Engineers has earned a reputation for its ability to successfully plan, design, survey, and implement complex projects within the communities it serves. BKF Engineers is at the forefront of the project lifecycle, as it draws upon experience in guiding projects through the initial due diligence stage, progressing project designs and permitting approvals, and concluding with construction and implementation. Through a highly curated product portfolio in combination with innovative design solutions and a team of more than 450 experienced employees, BKF Engineers is dedicated to delivering sustainable and dynamic infrastructure to its communities. BKF Engineers’ mission remains laser focused on collaborating with clients as integral partners in order to be a leading consulting firm on the West Coast. For more information about BKF Engineers, please visit: https://www.bkf.com/

About Long Point Capital

Long Point Capital, a private equity firm, focuses on investments in professional services companies with highly capable management teams and strong growth prospects. Founded in 1998, Long Point Capital has a long history of serving as a value-added partner to founder, family, and management-owned companies. Typical platform companies have $5 million to $30 million in EBITDA. For more information, please visit our website at www.longpointcapital.com.

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KEYWORD: NORTH CAROLINA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ASSET MANAGEMENT PROFESSIONAL SERVICES FINANCE

SOURCE: Barings

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PUB: 09/23/2024 09:00 AM/DISC: 09/23/2024 09:02 AM

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