Goldman Sachs Asset Management Led Financing for Capvest's Acquisition of Recochem

NEW YORK – December 11, 2023 – The Private Credit business within Goldman Sachs Asset Management (Goldman Sachs) today announced that it served as Administrative Agent, Joint Lead Arranger and the lead lender in the Senior Secured financing to support the acquisition of Recochem, Inc. (“Recochem”) by funds managed by CapVest Partners LLP (“CapVest’), last month.

Recochem is a leading provider of maintenance and consumable fluid solutions primarily to the automotive aftermarket and household end-markets. Existing investor H.I.G. Capital will maintain a minority stake in the Company.

Alex Chi, Co-Head of Americas Private Credit Investing at Goldman Sachs, said: “We are pleased to partner with CapVest to support the continued growth of Recochem. We look forward to continuing to work with the team to pursue opportunities to drive growth through acquisitions.”

Timothy Colson, Partner at CapVest said: “CapVest appreciates Goldman Sachs’ partnership in the financing of Recochem. The process was collaborative, and the multi-currency solution was particularly important given the global nature of Recochem’s operations.”

Milbank LLP served as legal counsel to Goldman Sachs.

 

About Private Credit at Goldman Sachs Asset Management

Goldman Sachs Asset Management delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has over $2.6 trillion in assets under supervision as of September 30, 2023.

Established in 1996, Private Credit at Goldman Sachs Asset Management is one of the world’s largest private credit investors with over $100 billion in assets across direct lending, mezzanine debt, hybrid capital and asset-based lending strategies. The team’s deep industry and product knowledge, extensive relationships and global footprint position the firm to deliver scaled outcomes with speed and certainty, supporting companies from the lower middle market to large cap in size.

Goldman Sachs Asset Management is one of the largest managers of private capital globally and invests in the full spectrum of alternatives, including private equity, growth equity, private credit, real estate, infrastructure and sustainability. Follow us on LinkedIn.