Barings Provides Financing to Support TA Associates’ Investment in Professional Datasolutions Inc., Add-On Acquisitions

CHARLOTTE, N.C., Oct. 20, 2016 -- Barings, one of the world’s leading asset management firms with over $284 billion in assets under management, announced that senior secured credit facilities it provided to support TA Associates’ investment in Professional Datasolutions Inc. (“PDI”) have been tapped for two strategic acquisitions that will strengthen PDI’s position in the convenience-store retail and wholesale petroleum software markets.

PDI initially received financing from Barings in May 2016 and more recently drew upon committed financing from Barings to finance two acquisitions. The first acquisition was Intellifuel Systems, Inc., a leading provider of fuel management software and logistics solutions. The second acquisition was KLS Technologies, LLC., an aggregator of scan data in the convenience retail segment for use by consumer research firms.

“TA Associates has a long track record of partnering with Barings’ North American Private Finance team and we have always appreciated its ability to customize creative, flexible and reliable financing solutions,” said Hythem T. El-Nazer, managing director for TA Associates. “Barings' continued support enabled PDI to execute on acquisitions that are a key part of its strategic growth plans.”

PDI is a market leader in providing convenience-store customers with ERP solutions that enhance operating efficiency, including retail automation, bulk fuel automation, business intelligence, financial reporting and workforce management. The company supports 12 of the top-20 convenience store chains, serving a total of more than 325 customers with over 31,000 combined retail locations across North America.

“Barings is dedicated to meeting the evolving capital needs of our clients, and we appreciate the opportunity to partner with TA Associates on its investment in PDI,” said Brian C. Baldwin, Managing Director in Barings’ North American Private Finance Group. “We are excited about the expanded market footprint PDI will gain from the acquisitions.”

About PDI
PDI provides software, hardware and professional services to convenience retailers and wholesale petroleum marketers. Over 325 companies operating more than 31,000 locations worldwide rely on PDI’s software systems for retail automation, supply-chain management, business intelligence, financial reporting, and employee time and labor management. For more information about PDI, visit www.profdata.com.

About TA Associates 
TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 460 companies around the world and has raised $24 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the business services, consumer, financial services, healthcare and technology industries. More information about TA Associates can be found at www.ta.com.

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

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Contact:  
Brian Whelan, Barings, 704.805.7244, [email protected]
David Coburn, Luquire George Andrews, 704.552.6565, [email protected]