GT Polaris Inc. Assigned 'B-' Issuer Credit Rating; Outlook Stable

Genstar Capital LLC and TA Associates Inc. have announced the joint acquisition of Orion Advisor Solutions (Orion), an Omaha, Neb.-based provider of technology and outsourced services to wealth managers and asset managers, and Brinker Capital Inc. (Brinker), an independent turnkey asset management program (TAMP). The combined company will be called GT Polaris Inc. (d/b/a Orion) and will issue a new $700 million first-lien term loan, new $80 million revolving credit facility, and a new $280 million second-lien term loan. It will use the proceeds to fund the purchase of Orion and Brinker, and refinance existing debt. We are assigning a 'B-' issuer credit rating to GT Polaris Inc. We are also assigning our 'B' issue-level rating and '2' recovery rating

...July 27, 2020 - Genstar Capital LLC and TA Associates Inc. have announced the joint acquisition of Orion Advisor Solutions (Orion), an Omaha, Neb.-based provider of technology and outsourced services to wealth managers and asset managers, and Brinker Capital Inc. (Brinker), an independent turnkey asset management program (TAMP). - The combined company will be called GT Polaris Inc. (d/b/a Orion) and will issue a new $700 million first-lien term loan, new $80 million revolving credit facility, and a new $280 million second-lien term loan. It will use the proceeds to fund the purchase of Orion and Brinker, and refinance existing debt. - We are assigning a 'B-' issuer credit rating to GT Polaris Inc. We are also assigning our 'B' issue-level rating and '2' recovery rating to its first-lien senior secured credit facilities. The second-lien term loan was privately placed and will not be rated at this time. - The stable outlook reflects our expectation for a successful integration of the two...

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