by Jon Berke, and Bill Weisbrod
In this month’s edition of the Middle Market Junction podcast, David Brackett, co-CEO and founder of Antares Capital, speaks with Debtwire Middle Market’s Jon Berke and Bill Weisbrod on previewing the 2017 lending environment for middle market sponsor buyouts and also takes a look back on a very transformational year for the commercial-lending giant.
GE Capital, after a very heated auction, wound up selling Antares to the Canada Pension Plan Investment Board (CPPIB) in August 2015 for USD 12bn. Subsequently, CPPIB’s balance sheet enabled Antares to grow its loan book by 25%, while the average EBITDA on its deal has increased to around USD 45m from roughly USD 35m since the merger, according to Brackett.
Looking forward, Brackett believes M&A activity is due to increase by 15% year-over-year in 2017, given the strength of the capital markets. He also touches upon whether the new presidential regime will influence middle-market lending.