Aug. 15, 2022: MUFG Launches Direct Lending Unit for Private Equity Clients

Read the top headlines from Monday, August 15, 2022 below:

MUFG Debuts Private Equity Lending Group

Mitsubishi UFJ Financial Group (MUFG) announced via press release the formation of its Direct Lending group created to support private equity sponsor clients. The bank said Matt Maley will lead sponsor coverage as Head of Direct Lending. In a statement, Maley noted that MUFG’s direct lending initiatives began in 2019, “when our sponsor clients approached us to finance their middle-market LBOs outside of the broadly syndicated institutional market.” So far, MUFG has provided more than 50 direct loans to private equity sponsor clients and their portfolio companies.

Riverside Exits Parker Food Group

Middle-market private equity firm The Riverside Company announced its recent exit from Parker Food Group, a company that develops and manufactures ingredients for food and beverage brands. Parker was rounded in 1926, and Riverside first invested in the business in 2017. “During our ownership, we delivered a highly successful organic growth strategy, built a world-class team, expanded the company’s R&D capabilities and broadened its blue-chip customer base,” recalled Meranee Phing, a senior partner at Riverside. In another statement, Parker CEO Greg Hodder said the business is “now ideally positioned for further growth, with record revenue and opportunity pipeline across customers, end markets and channels.”

A separate press release announced that the business has been acquired by “an investment company indirectly held by Investindustrial VII L.P.” Financial terms of the investment were not disclosed. Investindustrial announced the same day that it has also agreed to acquire meal preparation company TreeHouse Foods Inc.

Related content: Unpacking the Performance of Branded Food Cos.

Huron Capital Backs ExperiGreen to Debut Lawn Care Platform

Private equity firm Huron Capital, which focuses on the middle market, said in an announcement it has invested in lawn care provider ExperiGreen Lawn Care, a deal that allows the firm to debut its residential lawn care platform. Huron noted that ExperiGreen’s executive team will remain in-place as it focuses on further scaling to become “a national player of scale,” according to the company’s president John Moehn.