UBS is preparing to launch syndication of $110 million in senior secured loans for ComPsych tomorrow. The financing is being used to fund the acquisition of the company by Summit Partners, a Boston-based private equity firm with $9 billion under management.
The deal comprises a five-year, $10 million revolver and a six-year, $100 million term loan. Pricing could not be determined. Located in Chicago, ComPsych runs one of the largest employee assistance programs in the nation. The company sends behavioral specialists, work-life professionals, attorneys, financial experts and wellness professionals to consult and help individuals deal with problems that may arise at the workplace or in their personal lives.
Calls to Robert Jacobson, cfo at ComPsych, and bankers at UBS were not returned. A spokesman at Summit Partners declined comment.