Overland Advantage (“Overland”), a business development company with a differentiated direct lending approach that benefits from a strategic relationship between Centerbridge Partners and Wells Fargo, announced today that it served as lead arranger for a $74.0 million second lien credit facility in support of a recapitalization transaction for MaxiTransfers (“Maxi”), a Housatonic Partners portfolio company. Wells Fargo continues as agent and lead to a $90.0 million revolving credit facility.
MaxiTransfers is a money service business specializing in the US-LATAM corridor, serving the Latin American community in the U.S. since the early 2000’s.
“We are pleased to continue our relationship with Wells Fargo as Lead Arranger in our Revolving Credit Facility, and we welcome Overland Advantage as a provider of new capital. Overland’s flexibility and creativity allowed the Company and its shareholders to maximize their capital structure, while also facilitating our future growth initiatives”, said Gabriel Manjarrez, Chief Executive Officer of MaxiTransfers.
“This transaction is consistent with Overland’s strategy of supporting companies with demonstratable growth in an attractive industry. Our strategic relationship with Wells Fargo allowed us to deliver a unique and flexible solution to fuel MaxiTransfers’ next phase. We look forward to partnering on more opportunities,” said Bill Neuenfeldt, Chair of Overland Advantage and Senior Managing Director and COO at Centerbridge.
“We are thrilled to expand our relationship with MaxiTransfers and provide them with not only the bank credit facility, but access to this innovative private credit solution through Overland,” said Lance Reynolds, Division Executive with Wells Fargo Commercial Banking.
