DFX Intelligence
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Borrower
M•••• H•••••• I••
group grade Aon a schedule nowsponsor unattributed
Also written as: Business Equipment & Services; Mavis Tire Express Services; M•••• BidCo Pty Limited; M•••• Buyer, Inc; Verdelite JV LP
Nothing material in the last 200 days. No dated change on record yet.
Principal held
unknown
sum of BDC pieces, a lower bound
Fair value
$334M
n/a on cost, debt pieces
Unfunded
Not disclosed
commitments not yet drawn
BDC lenders
5
3 on the latest quarter
Facilities
2
1 equity pieces beside them
Next maturity
unstated
no dated debt inside 24 months
On the tape since
Dec 31, 2021
latest Mar 31, 2026
Events
4
dated, non-routine
Lender marks
each lender's own fair value over cost at Mar 31, 2026, folded to one row per lender
Every BDC piece · 3 positions across 3 lenderslargest principal first, with instrument and rate
| BDC | Instrument | Principal | Fair value | Rate |
|---|---|---|---|---|
| B••• O•• C•••••• C••• | preferred equity equity Series A C••••••••• P•••••••• S•••• | N••••••••• | Not disclosed | $270M 107c | PIK 7.00% |
| B••• O•• C•••••• C••• I• | preferred equity equity Series A C••••••••• P•••••••• S•••• | Non A••••••••• | Not disclosed | $47.9M 107c | PIK 7.00% |
| B••• O•• C••••• I••••• C•••• | preferred equity equity Series A C••••••••• P•••••••• S•••• | N••••••••• I••••• | Not disclosed | $16.0M 107c | PIK 7.00% |
Capital structure as the BDCs see it
latest quarter end Mar 31, 2026
| Facility | Held | On cost | Pricing | Maturity | BDCs |
|---|---|---|---|---|---|
| revolver lien unstated exited Mar 31, 2025 | at least $6.4M | 99c | S+325 bp | May 4, 2026 | 1 |
| other lien unstated exited Mar 31, 2023 | unknown | 100c | PIK 7.00% | unstated | 2 |
Equity pieces beside the debt: preferred equity ($334M fair value, 4 BDCs)
Through time
the borrower's pieces summed across BDCs, every quarter end
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2026 | 3 | $0 | $0 | n/a | 0 |
| Dec 31, 2025 | 3 | $0 | $0 | n/a | 0 |
| Sep 30, 2025 | 3 | $0 | $0 | n/a | 0 |
| Jun 30, 2025 | 3 | $0 | $0 | n/a | 0 |
All 16 quartersShow fewer
| Quarter end | BDCs | Principal held | Fair value | On cost | PIK pieces |
|---|---|---|---|---|---|
| Mar 31, 2025 | 4 | $6.4M | $6.3M | 99c | 0 |
| Dec 31, 2024 | 4 | $10.1M | $10.1M | 101c | 0 |
| Sep 30, 2024 | 5 | $3.7M | $3.6M | 100c | 0 |
| Jun 30, 2024 | 5 | $2.8M | $2.7M | 101c | 0 |
| Mar 31, 2024 | 5 | $35.4M | $35.4M | 101c | 0 |
| Dec 31, 2023 | 5 | $36.2M | $36.2M | 102c | 0 |
| Sep 30, 2023 | 4 | $28.8M | $28.7M | 102c | 0 |
| Jun 30, 2023 | 5 | $28.5M | $28.1M | 101c | 0 |
| Mar 31, 2023 | 5 | $30.6M | $29.7M | 99c | 0 |
| Dec 31, 2022 | 5 | $57.4M | $54.3M | 97c | 0 |
| Sep 30, 2022 | 2 | $57.6M | $53.4M | 95c | 0 |
| Dec 31, 2021 | 2 | $58.3M | $58.3M | 103c | 0 |
What changed
- Facility left every BDC scheduleMar 31, 2025
- Maturity shortened (observed)Jun 30, 2024
- Facility left every BDC scheduleMar 31, 2023
- Marked down across lendersSep 30, 2022
- Marked down (one lender)Sep 30, 2022
Full timeline · 6 eventsShow fewer
- New borrower on a BDC scheduleDec 31, 2021
Sponsor
No sponsor attribution: no portfolio page, deal announcement or Form D signer consensus names an owner for this borrower group.
Identity
- Group key
- METISderivedthe codename stem after legal suffixes and deal words
- Spellings
- 2 across 5 BDCsderived