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Tree Line Capital Agents First Lien Credit Facility for Promevo

July 13, 2021, 07:04 AM
Filed Under: Technology

Tree Line Capital Partners, a direct lender focused on the lower middle market, served as Agent and Lead Arranger for a first lien credit facility to support the growth recapitalization of Promevo, LLC (the “ Company”) by Cohere Capital.  Tree Line provided a last-out term loan and equity co-investment to support the transaction. City National Bank provided a first-out term loan and revolver.

Promevo is a leading provider of IT services, solutions, and software focused on Google Workspace, Chrome, and Cloud Platform (GCP) technologies. As a Premier Google Partner, Promevo offers its clients resale, services, and solutions leveraging its proprietary management software product, gPanel. gPanel is a comprehensive management and reporting software solution which helps clients manage users, documents, reporting, automation, and security in an easy-to-use interface specifically built for Google Workspace.

Frank Cupido, Partner of Tree Line added, “We are thrilled to partner with Promevo and Cohere in this transaction.  The Company has built an impressive reputation and is well positioned to grow its service offerings within the Google ecosystem.  Tree Line’s approach involving a unitranche loan in combination with City National provided both a comprehensive and competitive lending solution that we were able to close quickly.”

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