M&A Deal Summary

Barings Acquires Sierra Income

On September 21, 2021, Barings acquired business services company Sierra Income for 624M USD

Acquisition Highlights
  • This is Barings’ 1st transaction in the Business Services sector.
  • This is Barings’ largest (disclosed) transaction.
  • This is Barings’ 2nd transaction in the United States.
  • This is Barings’ 1st transaction in New York.

M&A Deal Summary
Date 2021-09-21
Target Sierra Income
Sector Business Services
Buyer(s) Barings
Deal Type Merger
Deal Value 624M USD
Advisor(s) Broadhaven Capital Partners LLC (Financial)
Sullivan & Worcester (Legal)

Target

Sierra Income

New York, New York, United States
Sierra Income is a non-traded business development company that invests primarily in first lien senior secured debt, second lien secured debt, and, to a lesser extent, subordinated debt of middle-market companies in a broad range of industries with annual revenue between $50 million and $1 billion. Sierra Income is based in New York City.

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Buyer(S) 1

Buyer

Barings

Charlotte, North Carolina, United States
Category Company
Sector Financial Services
Revenue 140M USD (2023)
DESCRIPTION

Barings is a business development company that primarily makes debt investments in middle-market companies. BBDC is managed by Barings, LLC, a premier global asset manager with over $382+ billion of AUM firm-wide. Barings is based in Charlotte, North Carolina.

DEAL STATS #
Overall 2 of 2
Sector (Business Services) 1 of 1
Type (Merger) 1 of 1
State (New York) 1 of 1
Country (United States) 2 of 2
Year (2021) 2 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-05 Eclipse Business Capital

Chicago, Illinois, United States

Eclipse Business Capital is an asset-based lending platform that provides financing to middle-market borrowers. Encina provides revolving lines of credit and term loans ranging in size from $10–$100 million which are secured by accounts receivable, inventory, machinery & equipment, and real estate. Eclipse Business Capital was founded in 2016 and is based in Chicago, Illinois.

Buy -
Mergr

Product

Company

Legal