Prudential Private Capital began our relationship with Wells in 2014 and in July 2024, we provided a $165 million Senior Term Loan to support their acquisition of Gate Precast. Due to the nature of the acquisition and volatility in the financing markets, Wells required capital on short notice which we were able to provide through our Direct Lending platform.
The Wells Companies, Inc. decided to partner with us given i) certainty of execution, ii) speed and size of providing capital, and iii) the desire to work with a relationship-focused provider with the ability to deliver more capital as the Company grows.
We are excited to formalize our partnership with The Wells Companies, Inc. through this investment, and we look forward to supporting the Company in the years to come.