MUFG unveils direct lending team, to be led by Maley

Mitsubishi UFJ Financial Group (MUFG) unveiled a new group that will provide loans to middle market private equity-backed companies for buyouts and recapitalization transactions.

Matt Maley will lead the team in a new role, as head of direct lending, according to an Aug. 11 statement from the company. He joined MUFG in 2018 to lead the bank’s sponsor coverage. Maley will report to Jon Lindenberg, who is head of global corporate and investment banking (GCIB) in the Americas.

"We started a direct lending initiative in 2019 when our sponsor clients approached us to finance their middle market LBOs outside of the broadly syndicated institutional market," said Maley.

"Having completed more than 50 direct loan transactions to date, this offering has become an important tool in our toolbox, helping us grow our U.S. sponsor business to $300 million in revenue."

MUFG provided the following examples of recent deals. No further details were available.

WindsorONE: Proceeds supported Brightstar Capital Partner's acquisition of the company, a family-owned manufacturer of wood trim boards. MUFG provided 100% of an underwritten loan commitment. The transaction was announced in July.

Authority Brands: The loan was refinanced within 18 months via a “whole business securitization.” Authority Brands is an investment of Apax Partners. The Columbia, Md.-based company provides residential cleanings and residential care services.

Pittsburgh Glass Works: Proceeds backed an acquisition of the company by One Equity Partners. Pittsburgh Glass Works sells glass to the North American automotive aftermarket. The buyout was announced in March.

Sweeping Corporation of America: MUFG was part of a direct lending syndicate backing an acquisition of the company by Warburg Pincus from Soundcore Capital Partners. Earlier this month, the company announced an acquisition of Virginia-based Total PowerSweeping Services, Inc.

Offen Petroleum: The loan was increased within 12 months. Offen Petroleum is an investment of Court Square Capital Partners.