Private equity firms based in Connecticut and the United Kingdom plan to back the acquisition of a Spanish grocery store chain by providing more than more than half a billion dollars in debt financing.
Funds managed by Greenwich-based Strategic Value Partners (SVP) and London-based Hayfin Capital Management have agreed to provide a $547 million senior secured term loan to support the management-led acquisition of Uvesco from Paris-based private equity firm PAI Partners.
Financial terms of the deal, which is being led by Uvesco management and backed by Spanish institutional investors, were not disclosed.
Uvesco was founded in 1993, following the merger of two family-owned businesses. It operates 344 supermarkets across the Basque Country, Cantabria, Navarra, La Rioja and Madrid under the brand names BM and Super Amara.
SVP manages about $22 billion in assets under management and has invested more than $57 billion of capital since being founded in 2001 by Victor Khosla. Hayfin has about $41.2 billion in assets under management.
SVP announced in early October that it had acquired nearly one-third of a gas-fired energy facility in Ohio.
