TCW Steel City Leads $115 Million Financing for Revenew International Acquisition

TCW Steel City Facilitates Major Acquisition Financing

On October 27, 2026, TCW Steel City announced their role as administrative agent and joint lead arranger for a transformative financing deal supporting Bernhard Capital Partners' acquisition of Revenew International LLC. This transaction, valued at $115 million, aims to bolster Revenew’s strategic position in the market while facilitating its growth initiatives.

Financing Structure Details

The financing arrangement comprises a comprehensive package featuring an $80 million term loan, a $15 million revolving credit facility, and a $20 million delayed draw term loan designed for future acquisitions. In this partnership, Stellus Capital Management, LLC also played a key role as joint lead arranger and joint bookrunner, underscoring the collaborative nature of this significant financing.

Walt Hill, representing Steel City, expressed enthusiasm about supporting Bernhard and Revenew through this critical financing. He highlighted the flexible structure of the financing arrangement, which is aimed not only at completing the transaction but also at enabling Revenew to pursue additional growth opportunities. Hill reiterated the importance of Bernhard as a strategic partner, stating that Steel City looks forward to nurturing this relationship through upcoming transactions that benefit Bernhard’s portfolio.

Phil Preis, managing director of capital markets at Bernhard Capital Partners, emphasized the strategic significance of this financing in supporting Revenew's acquisition. With an established reputation for enhancing organizational profitability and mitigating risks through innovative solutions, Revenew stands poised for further growth. Preis expressed gratitude for Steel City’s partnership and expertise in facilitating the successful closure of this deal.

About Revenew International LLC

Founded in 1999 and based in Houston, Texas, Revenew International LLC has emerged as a premier firm specializing in cost recovery and cost containment solutions. With a focus on enhancing operational performance, their services extend across various sectors, including utilities, energy, pharmaceuticals, and manufacturing. Revenew leverages its gainIQ analytics platform to assist clients in identifying and recovering overpayments while minimizing risks associated with financial transactions.

Their commitment to utilizing technology for improved contract compliance, supplier payment reviews, and overall performance enhancement has cemented Revenew's position in asset-intensive industries nationwide.

As they embark on this new chapter, the partnership between TCW Steel City and Revenew signifies a shared vision for innovation and strategic growth in the financial landscape. They aim to continue enriching service offerings and extending their market reach to better serve their esteemed clientele.

About TCW Steel City

Operating as a private credit platform, TCW Steel City synergizes the vast resources of PNC Bank, a leading commercial banking institution, with TCW, a global asset management firm with extensive experience in direct lending. This collaboration has proven fruitful, resulting in over 65 joint transactions prior to the formation of Steel City. The focus of this platform revolves around senior secured loans, catering to a diverse range of industries.

Steel City operates independently with a dedicated team from both PNC Bank and TCW, consistently exploring innovative financing solutions tailored for middle-market companies.

In conclusion, this recent $115 million acquisition financing arranged by TCW Steel City not only reinforces their adeptness in the financial sector but also positions Revenew for continued excellence and expansion in a competitive marketplace. As both companies move forward, their ongoing partnership promises to yield substantial benefits for all stakeholders involved.