OHA is a Joint Lead Arranger of the Private Unitranche Financing for HGGC’s Acquisition of Rimkus Consulting Group

Rhea-AI Summary

Oak Hill Advisors (OHA) acted as a Joint Lead Arranger for the private financing of Rimkus Consulting Group's acquisition by HGGC. The more than $400 million total financing included a unitranche term loan, delayed draw term loan, and revolver. OHA's expertise in the forensic engineering sector and experience in investing in consulting firms positioned them well for this transaction. HGGC praised OHA's partnership and support in advancing Rimkus' growth.

New York, New York, April 02, 2024 (GLOBE NEWSWIRE) -- Oak Hill Advisors (“OHA”) served as a Joint Lead Arranger for the private financing supporting the acquisition of Rimkus Consulting Group (“Rimkus”) by HGGC. Rimkus is a leading provider of mission-critical engineering and technical consulting services to clients worldwide. Rimkus’ team of experts delivers specialized solutions to complex questions and problems, with a focus on industry-leading client service. OHA was one of two lenders providing the more than $400 million total financing facility, consisting of a unitranche term loan, delayed draw term loan and revolver.

“We are pleased to partner with HGGC and deliver our decades-long experience lending to business services companies to support this transaction,” said Eric Muller, Partner and Portfolio Manager at OHA. “With its best-in-class technical expertise and trusted client relationships, Rimkus has established a strong reputation within the field of engineering consulting, and we look forward to helping advance the company’s growth trajectory alongside its equity partners.”

OHA’s knowledge of the forensic engineering sector and deep expertise investing in the broader consulting ecosystem positioned it to engage early with HGGC and facilitate a successful acquisition.

“We are very excited to continue to strengthen our longstanding partnership with OHA as part of our investment in Rimkus,” said Colin Phinisey, Partner and Head of Capital Markets at HGGC. “In addition to providing capital and a financing structure that is tailored to support our investment thesis, OHA’s experience in engineering consulting offers a differentiated advantage as Rimkus seeks ongoing growth and value creation for all stakeholders.”

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About OHA: Oak Hill Advisors (OHA) is a leading global credit-focused alternative asset manager with over 30 years of investment experience. OHA works with institutions and individuals and seeks to deliver a consistent track record of attractive risk-adjusted returns. The firm manages approximately $63 billion of capital across credit strategies, including private credit, high yield bonds, leveraged loans, stressed and distressed debt and collateralized loan obligations as of December 31, 2023. OHA’s emphasis on long-term partnerships with companies, sponsors and other partners provides access to a proprietary opportunity set, allowing for customized credit solutions across market cycles.

With over 400 experienced professionals across six global offices, OHA brings a collaborative approach to offering investors a single platform to meet their diverse credit needs. OHA is the private markets platform of T. Rowe Price Group, Inc. (NASDAQ – GS: TROW). For more information, please visit oakhilladvisors.com.

About Rimkus: Rimkus is a worldwide provider of engineering and technical consulting to corporations, insurance companies, law firms, and government agencies. Rimkus experts specialize in forensic consulting, dispute resolution and construction management services, solutions for the built environment, and human factors support for the consumer, industrial, and healthcare industries. For more than 40 years, the company’s professional engineers, architects, scientists, and technical specialists have been recognized for their commitment to service excellence by local, national, and international business communities. Rimkus operates more than 110 offices worldwide. For more information, visit http://www.rimkus.com.   

About HGGC: HGGC is a values-driven, partnership-focused private investment firm. The firm’s ecosystem of investors, operators, and professionals are united by the shared mission to develop leading enterprises and build long term value together. HGGC invests in technology, business services, financial services and consumer enterprises generally valued between $200M - $1.5B+. The firm is based in Palo Alto, CA and manages over $6.9 billion in cumulative capital commitments. Since its inception in 2007, HGGC has completed more than 600 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $71 billion. More information, including a complete list of current and former investments, is available at www.hggc.com.  

FAQ

What was OHA's role in the financing of Rimkus Consulting Group's acquisition?

OHA served as a Joint Lead Arranger for the private financing supporting the acquisition of Rimkus by HGGC.

How much total financing was provided for Rimkus' acquisition?

The financing included more than $400 million, consisting of a unitranche term loan, delayed draw term loan, and revolver.

What expertise did OHA bring to the transaction?

OHA's knowledge of the forensic engineering sector and experience investing in consulting firms positioned them well for the acquisition.

Who praised OHA's partnership in the acquisition of Rimkus?

HGGC's Colin Phinisey, Partner and Head of Capital Markets, praised OHA's partnership and support in advancing Rimkus' growth.