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MUFG Union Bank Leads Recapitalization for Carlyle-backed Software Company NetMotion

November 19, 2020, 08:25 AM
Filed Under: Software

MUFG Union Bank announced that its Commercial Banking group acted as lead arranger for a recapitalization for software company NetMotion, optimizing the company's debt financing. NetMotion is a portfolio company of The Carlyle Group.

"With this transaction, we are pleased to deepen our relationship with NetMotion and help them continue their growth trajectory both in the U.S. and abroad," said Bita Ardalan, Head of Commercial Banking for Union Bank. "Our dedicated Equity Sponsor Finance and Technology teams take the time to evaluate and truly understand each client's business, enabling us to meet the needs of our most sophisticated clients who require deep industry expertise, a high level of service and solutions specifically tailored to their unique business objectives."

Earlier this year, to meet increased client demand, the MUFG Union Bank Commercial Banking division created a Specialized Industries Group, led by Managing Director and Market President Adam Feit, to deepen its coverage in a number of industry verticals, including Equity Sponsor Finance, Technology and Healthcare.

"NetMotion has enjoyed double-digit growth for the last few years, in both our domestic and international markets. This year, our topline growth accelerated even further, particularly since launching a groundbreaking new platform that caters to the productivity and security needs of today's agile, remote workforce," said Christopher Kenessey, CEO and President of NetMotion. "Working with Union Bank as our trusted partner, we have the freedom and confidence to continue investing in cutting-edge solutions that will allow us to expand our customer base exponentially and in a sustainable fashion."

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