Barings, one of the world’s leading investment managers, served as lead agent, sole lender, and minority equity investor to provide financing support for The Zabel Companies’ (“Zabel”) purchase of SVI International (“SVI” or “the Company”). Headquartered in DeKalb, IL, SVI is the leading supplier of aftermarket repair parts and accessories for automotive lifts, wheel service and automotive shop equipment, and other specialty applications.
“Barings is very pleased to have made our first financing with The Zabel Companies and appreciates the opportunity to start a great partnership as both a debt and minority equity provider to SVI,” said Scott Chappell, Managing Director in Barings’ North American Private Credit Group. “With comprehensive product offerings and best-in-class customer service, SVI provides important resources to its customers across the automotive service equipment industry. We are confident Zabel’s significant experience with aftermarket parts companies will position the Company for accelerated growth.”
"SVI has established itself as a differentiated provider of aftermarket repair parts and accessories, with a loyal customer base and a strong commitment to culture and customer service,” said Brian Kohn, Partner at The Zabel Companies. “We appreciate the financing support, flexibility, and partnership we received from Barings throughout the acquisition process, and we look forward to their continued support as the business scales.”
This transaction expands Barings’ $32.78 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 $406+ 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. Learn more at www.Barings.com.
*As of March 31, 2024
About SVI International
SVI provides aftermarket parts and components for automotive lifts, automotive shop equipment, and other product categories. With over 40,000 parts, SVI offers a diverse product line to serve as a one-stop-shop for automotive lifts and garage equipment, RELS brake lathes, fluid delivery products, and petroleum equipment parts, among other products. SVI provides same-day shipping on in-stock parts from its warehouses in DeKalb, IL and Los Angeles, CA. Examples of the Company’s common product offerings include cables, pulleys, rubber pads, and hydraulic power units. The Company’s website can be found at www.sviinternational.com.
About The Zabel Companies
Based in Charlotte, NC, The Zabel Companies is an investment firm dedicated to partnering with management teams to build privately held companies over the long term. Zabel brings a patient and flexible approach to investing in and growing high quality businesses. Whether through a buyout, recapitalization, or injection of growth capital, Zabel’s strategy is to work closely with management teams to grow businesses and build value for all parties involved. For more information, visit www.zabelcompanies.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240514931265/en/
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