Blackstone and Ares Management have provided roughly $5bn in private credit financing to support Thoma Bravo’s acquisition of WWEX Group and its planned merger with portfolio company Auctane, according to Bloomberg.

The transaction will combine the logistics provider, which operates the Worldwide Express brand, with Auctane, a shipping software platform formerly known as Stamps.com. The combined company is expected to be valued at approximately $11.6bn.

The business is projected to generate pro forma EBITDA of about $693m and net revenue of roughly $1.5bn.

Blackstone served as the largest lender in the financing while Ares acted as administrative agent. A total of 33 lenders participated in the transaction, including Blue Owl Capital, Oaktree Capital Management, HPS Investment Partners, 26North, and Goldman Sachs.

WWEX shareholders will retain about 30% ownership after rolling approximately $2.2bn of equity into the combined entity.

The transaction underscores continued momentum in private credit markets as alternative lenders increasingly finance large sponsor-backed acquisitions.

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