November 14, 2016 - 12:17 PM EST
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Barings Arranges Credit Facility to Support Battery Ventures' Buyout of Michell Instruments Group

CHARLOTTE, N.C., Nov. 14, 2016 (GLOBE NEWSWIRE) -- Barings, one of the world's leading asset management firms with $284 billion in assets under management, announced today that it acted as mandated lead arranger of a senior secured credit facility to support Battery Ventures' acquisition of Michell Instruments Group.

U.K.-based Michell Instruments Group is a global leader in high-precision sensing instrumentation market with over 40 years' experience in the field, specializing in measurement of dew point and relative humidity, as well as oxygen analysis. The company serves a diverse range of industries including compressed air equipment, natural gas transmission, power generation, pharmaceuticals and food processing.

"Battery Ventures is pleased to partner with Barings' European private finance group on our investment in Michell Instruments Group," said Jesse Feldman, general partner at Battery Ventures. "The global reach of Barings' private finance group proved valuable to us on this transaction, and the group's responsiveness and flexibility enabled us to close within a challenging timeline."

"Barings greatly values the opportunity to support Battery Ventures in its acquisition of Michell Instruments Group," said Mark Wilton, a managing director for Barings. "The company represents an attractive acquisition opportunity, owing to the mission-critical nature of its products, long track record of growth through the cycle and the diversity of its customer base. We are excited about continuing to support Battery Ventures in its execution of the company's growth plan through leveraging Michell Instruments Group's strong brand and market leadership."

About Barings LLC
Barings is a $284 billion* global asset management 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 1,700 employees and 600 investment professionals across 41 offices in 17 countries. Learn more at www.barings.com.

*As of September 30, 2016

Contact:  
(U.K.) Ali Dyson, Barings, +44 (0) 20 7214 1093, [email protected]
(U.S.) Brian Whelan, Barings, 704.805.7244, [email protected]




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Barings via Globenewswire


Source: Thomson Reuters ONE (November 14, 2016 - 12:17 PM EST)

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