SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
CHARLOTTE, N.C., Aug. 24, 2017 -- Barings, one of the world’s leading asset management firms, announced today that it served as co-lead arranger of a second-lien credit facility to support global private equity firm Warburg Pincus in its acquisition of MSHC Inc. (“Service Logic”) from Sterling Investment Partners (“Sterling”). Barings also participated in providing a senior-secured credit facility and a revolving credit facility to Service Logic. Barings previously provided subordinated debt and an equity co-investment to support Sterling’s investment in Service Logic in 2012.
Service Logic, headquartered in Charlotte, N.C., is the largest independent provider of aftermarket maintenance, repair and replacement services for commercial HVAC equipment, chilled water systems, and building automation and control systems. The company is comprised of leading HVAC service businesses in 34 markets across the United States.
“Barings is excited to work alongside Warburg Pincus to continue supporting the growth of a company we have come to know and respect greatly over the past five years,” said Scott Chappell, Managing Director in Barings’ Global Private Finance Group. “We have been impressed with the results that the Service Logic management team has achieved as they’ve transformed the firm into a national market leader, and we are confident the company will benefit from the deep experience and success Warburg Pincus brings in building businesses of scale.”
About Barings LLC
Barings is a $288 billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. A member of the MassMutual Financial Group, Barings maintains a strong global presence with over 600 investment professionals and offices in 16 countries. Learn more at www.barings.com.
*As of June 30, 2017
17/590
Contact: Brian Whelan, Barings, 704.805.7244, [email protected]
