Golub Capital Leads $300 Million Loan for Gridiron's Acquisition of Greenix

Golub Capital led a $300 million private credit loan to support Gridiron Capital's acquisition of pest control company Greenix. Churchill Asset Management, Morgan Stanley's private credit arm, and Apogem Capital also participated in the deal. The loan will support Gridiron's purchase of Greenix from Riata Capital Group, which had been invested in the company since 2020. Greenix operates in 16 states and focuses on servicing residential homes.

In a significant financial move, Golub Capital has led a private credit loan of around $300 million to support Gridiron Capital’s acquisition of pest control company Greenix. This deal, which was finalized on August 12, 2025, involves several key players in the private credit sector, including Churchill Asset Management, Morgan Stanley's private credit arm, and Apogem Capital [1].

Gridiron Capital, a private equity firm, is set to acquire Greenix from Riata Capital Group, which had been invested in the company since 2020. Greenix operates in 16 states, focusing primarily on servicing residential homes. The acquisition aims to bolster Gridiron's portfolio with a strong player in the pest control industry [2].

The $300 million loan, led by Golub Capital, will facilitate the purchase and is a testament to the growing interest in the private credit market. The involvement of Morgan Stanley and Churchill Asset Management underscores the deal's significance and the confidence of these established financial institutions in Gridiron's strategy [1].

Representatives for Golub, Apogem, and Greenix have not yet responded to requests for comment, while Churchill Asset Management and Morgan Stanley declined to comment on the matter. The acquisition is expected to bring strategic benefits to Gridiron, including expanded market reach and operational efficiencies [2].

This transaction highlights the ongoing trend of private equity firms leveraging private credit to fund acquisitions and growth initiatives. The participation of major players in the private credit sector suggests a robust appetite for investment in the industry. As the deal unfolds, it will be crucial to monitor Gridiron's integration of Greenix and the potential impact on both companies' financial performance.

References:
[1] https://www.bloomberg.com/news/articles/2025-08-12/golub-leads-300-million-loan-for-pest-control-company-greenix
[2] https://news.bloomberglaw.com/private-equity/golub-leads-300-million-loan-for-pest-control-company-greenix