Olympus Partners acquires Churchill Financial

Stamford-based private equity firm Olympus Partners has acquired Churchill Financial Holdings of New York City.

Terms were not disclosed.

The acquisition was made through the Olympus affiliate, Olympus Growth Fund V.

Churchill is a middle market-focused commercial finance company. Olympus agreed to refinance existing indebtedness and invest extra capital to support the growth of Churchill’s core middle-market lending business.

“Churchill is an excellent addition to our financial services portfolio,” said Rob Morris, managing partner of Olympus Partners. “We expect further opportunities in the wake of the consolidation prompted by the recent recession.”

Churchill has more than $3.25 billion in assets under management and approximately $1.25 billion of committed capital that support its senior lending activities. It has offices in New York, Chicago, Minneapolis and Los Angeles.

Paul Rubin, partner of Olympus Partners, said Olympus has been looking for an opportunity to invest in the middle-market senior lending area for some time.

Said Rubin, “With Churchill, we believe we have found the ideal platform, a first-class, highly regarded senior-management team, a solid and proven origination and underwriting team, an excellent credit track record in the middle-market senior lending space and significant long-term committed financing.”