M&A Deal Summary

Bain Capital Credit Acquires Surf Broadband

On June 15, 2021, lender Bain Capital Credit acquired communications company Surf Broadband

Acquisition Highlights
  • This is Bain Capital Credit’s 1st transaction in the Communications sector.
  • This is Bain Capital Credit’s 2nd transaction in the United States.
  • This is Bain Capital Credit’s 1st transaction in Indiana.

M&A Deal Summary
Date 2021-06-15
Target Surf Broadband
Sector Communications
Buyer(s) Bain Capital Credit
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Houlihan Lokey (Financial)
Perkins Coie (Legal)

Target

Surf Broadband

Elkhart, Indiana, United States
Surf Broadband provides predominately fiber-based, high-speed broadband to residential subscribers, businesses, educational institutions, and municipalities across Indiana, Illinois, and Michigan. Surf Broadband was founded in 1999 and is based in Elkhart, Indiana.

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Buyer(S) 1

Buyer

Bain Capital Credit

Investor Investor Investor Investor Investor

Category Lender
Founded 1998
PE ASSETS 43.7B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Credit is a provider of credit, lending, and other related investment strategies. The Firm's private credit group looks to fund profitable middle-market businesses with $10 to $150 million of EBITDA. Bain Capital Credit is sector agnostic and will consider opportunities throughout North America, Europe, and Australia/New Zealand. Bain Capital Credit was founded in 1998 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 3 of 11
Sector (Communications) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 3
State (Indiana) 1 of 1
Country (United States) 2 of 5
Year (2021) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-23 CJ Foods America

La Palma, California, United States

CJ Foods America is the U.S. food operations manufacturer and distributor of Asian food products with a focus on Korean food. Through brands, Bibigo and Annie Chun's, CJ Foods are able to offer an extensive range of packaged food products, including dumplings, noodles, and sauces. Backed by a global company with over 60 years of experience in the food industry, CJ Foods’ mission is to drive awareness of Asian food, especially Korean food, and provide only the best quality products to U.S. households across the nation.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-14 GAIL s

London, United Kingdom

GAIL's provides bake fresh, handmade bread, pastries, and cakes every day, served with our carefully-sourced house blend specialty coffee. GAIL's was founded in 2005 and is based in London, United Kingdom.

Buy -
Mergr

Product

Company

Legal