Press
Evolution Credit Partners Supports Growth of Beacon Mobility
Boston and New York, October 16, 2023 – Evolution Credit Partners Management (“Evolution” or the “Firm”), an alternative credit investment firm with approximately $3 billion in assets under management, today announced the funding of a senior PIK term loan to support the growth of Beacon Mobility (“Beacon”), a portfolio company of Audax Private Equity and a leading provider of special needs student, general education, and paratransit transportation services.
Evolution is partnering with a group of lenders to provide Beacon with a significant financing arrangement to fund strategic acquisitions in addition to other organic growth initiatives. Evolution is a lead lender in the new facility, providing Beacon’s leadership team with a customized solution to support strategic and geographic expansion and position the Company for continued growth.
“We are delighted to partner with Audax Private Equity and fellow lenders to support Beacon Mobility as they execute against their plans for continued growth,” said Joe Lu, Managing Director, Evolution Credit Partners Management. “This is an excellent example of our bespoke approach and ability to be flexible in today’s environment, meeting organizations’ widely varying and transaction-specific financing needs.”
Beacon is a growing family of transportation companies committed to serving the diverse needs of their customers, operating across 24 states.
About Evolution Credit Partners Management
Evolution Credit Partners Management, headquartered in Boston, Massachusetts, manages approximately $3 billion across a range of leveraged finance and trade finance strategies. Founded in 2018 after spinning out from Harvard Management Company, Evolution's credit platform provides bespoke financing solutions across the credit spectrum. For more information, please visit www.evolutioncreditpartners.com or contact ir@evolutioncreditpartners.com.
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This press release contains certain statements that may include "forward-looking statements" within the meaning of the federal securities laws. All statements, other than statements of historical fact, included herein are "forward-looking statements." The forward-looking statements are based on Evolution's beliefs, assumptions and expectations of future performance, taking into account all information currently available to Evolution, and can change as a result of many possible events or factors, not all of which are known to Evolution or are within its control.