Marathon Asset Management and Webster Bank Provide Senior Secured Financing for Littlejohn’s Acquisition of Sunbelt Modular
Founded over 45 years ago, Sunbelt provides a robust suite of highly engineered structures for custom and fleet applications that serve a diverse set of commercial end markets. The Company will continue to be led by CEO Ron Procunier, an executive with more than 35 years of experience in the modular industry, supported by a team of 1,300-plus employees.
“Sunbelt’s in-house technical expertise, comprehensive product offering, and nationwide footprint uniquely position the Company to capitalize on favorable industry trends and deliver a superior value proposition to their customers,” said Curtis Lueker, Marathon’s Head of Direct Lending. “Littlejohn’s decades of experience investing and scaling businesses in the building products sector, coupled with Marathon’s dedicated expertise in building products, creates a compelling partnership in support of Sunbelt’s strategic plan for future growth.”
The closing of Sunbelt’s financing represents the second financing transaction completed by Marathon and Webster Bank’s Private Credit joint venture, which formed earlier this year.
“Marathon's powerful partnership with Webster Bank offers reliable, tailored, and creative financing solutions to middle market companies and private equity sponsors,” said Bruce Richards, Marathon’s CEO and Chairman. “Marathon’s leadership and expertise across our Private Credit programs – Direct Lending, Capital Solutions, and Asset-Based Lending – coupled with Webster Bank’s exceptional middle market sponsor lending program and broader commercial banking services, offers a highly differentiated suite of capabilities.”
Marathon’s Private Credit platform is designed as a one-stop shop offering corporate, asset-based, and capital solutions, including senior and junior financings that range from
About Marathon Asset Management:
Marathon Asset Management, L.P. is a leading global asset manager specializing in the Public and Private Credit markets with over
About Webster Financial Corporation
Webster Financial Corporation (NYSE:WBS) is the holding company for Webster Bank, a leading commercial bank in the Northeast that provides a wide range of digital and traditional financial solutions across three differentiated lines of business: Commercial Banking, Consumer Banking and Healthcare Financial Services, one of the country's largest providers of employee benefits and administration of medical insurance claim settlements solutions. Headquartered in
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Marathon Asset Management Media Inquiries
Prosek Partners
Josh
jclarkson@prosek.com / aoconnor@prosek.com
646-818-9283
Webster Financial Corporation Media Inquiries
Alice Ferreira
acferreira@websterbank.com
203-578-2610
Webster Financial Corporation Investor Inquiries
Emlen Harmon
eharmon@websterbank.com
212-309-7646
Source: Marathon Asset Management