Sound Point Provides Financing to Support the Acquisition of BNP Associates

Business Wire 16-Dec-2024 12:42 PM

Sound Point supports the acquisition of BNP Associates by Godspeed Capital

Sound Point Capital Management, LP ("Sound Point") is pleased to announce that it acted as Administrative Agent on a first lien, senior secured credit facility to BNP Associates, Inc. ("BNP" or the "Company"). The financing was used to support the acquisition of the Company by Godspeed Capital ("Godspeed" or the "Sponsor").

Founded in 1971 and headquartered in Denver, Colorado, BNP provides specialized consulting services to the air transportation industry. The Company offers full-service solutions for the design and implementation of baggage and cargo handling, security screening, and apron systems design for airports, airlines, and government agencies. BNP acts as a partner throughout the project life cycle, taking projects from inception through operational support.

"We are excited to support the knowledgeable BNP management team to continue growing the Company as a consulting leader in the air transportation space. Although BNP is our first deal with Sound Point, we have been greatly impressed by the team who was proactive and thoughtful throughout the process. Given their ability to move quickly and be commercial, it was an easy choice to select them as a financing partner as we grow the platform. We look forward to continuing to grow our relationship with Sound Point in the coming years," said James Reid, Principal at Godspeed Capital.

"We were thrilled to partner with Godspeed Capital on our first financing together. The Godspeed team proved to be a strategic partner to BNP providing deep sector expertise and abundant resources. When the opportunity arose to partner with Godspeed and BNP, we strove to deliver decisive feedback and put our best foot forward. We take pride in growing with our borrowers and are excited to work with BNP as it evolves under Godspeed ownership. We understand that being a good partner involves more than just providing capital," said Costa Trikas, Vice President at Sound Point.

About Sound Point Capital

Sound Point is an alternative asset management firm founded in 2008 with particular expertise in credit strategies. Based in New York, with offices in London, Connecticut, Florida and California, the firm manages money on behalf of institutional investors including top-tier pensions, foundations, insurance companies, wealth management firms and family offices. Sound Point's strategies span the spectrum of liquid and illiquid credit alternatives and include funds and managed accounts focused on leveraged loans, special situations, distressed debt, structured credit, direct lending and commercial real estate. Sound Point currently manages $45+ billion of assets and was founded by Stephen J. Ketchum, who is the controlling shareholder. Five principals of Stone Point Capital LLC, as well as Blue Owl GP Stakes, a division of Blue Owl Capital Inc. (NYSE:OWL), and Assured Guaranty Ltd, through one or more subsidiaries, are strategic investors in our business. For more information, please visit Sound Point's website at www.soundpointcap.com or contact our Investor Relations team at IR@soundpointcap.com.

About BNP Associates

BNP Associates, Inc. is a full-service air transportation consulting and engineering firm focused on airport infrastructure projects globally. Headquartered in Denver, Colorado, BNP has proudly served its clients since 1971, executing across thousands of projects throughout the world to ensure reliability, efficiency, and effectiveness in the air transportation market. For more information, please visit www.bnpassociates.com.

About Godspeed Capital

Godspeed Capital is a lower middle-market Defense & Government services, solutions, and technology focused private equity firm investing alongside forward-thinking management teams that seek an experienced and innovative investment partner with unique sector expertise, operational insight, and flexible capital for growth. While a typical investment will involve companies generating approximately $3 million to $30 million of EBITDA, Godspeed Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, and special situations. For more information, please visit the Godspeed Capital website at www.godspeedcm.com.

The statements and opinions presented above are endorsements provided by an executive of Godspeed Capital which sponsors the Company for a loan which Sound Point is acting as administrative agent. Neither the Company nor the sponsor, Godspeed Capital, is a client of Sound Point or investors in private funds managed by Sound Point. Sound Point has not provided any cash or non-cash compensation for the use of these statements. Sound Point's commercial relationship with these companies creates a conflict of interest since, the executive has an incentive to make positive statements about Sound Point and its experience to maintain the goodwill with Sound Point. These statements describe the executive's experience with Sound Point and/or its supervised persons and may not be representative of the experience of others.

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