Golub Capital acted as Left Lead Arranger on a $490 million incremental first lien term loan for Colibri Group (“Colibri”). The proceeds will be used to fund two acquisitions and repay an existing second lien term loan. The deal initially launched at $400 million and was then upsized by $90 million to fund a new tuck-in acquisition.
Colibri is an online learning management platform for licensing, continuing education, test preparation and professional development. It has been a portfolio company of Gridiron Capital since 2019.
“This transaction is reflective of the deal activity we are seeing in the current environment, with sponsors showing a particular interest in add-on acquisitions” said Spyro Alexopoulos, Co-Head of Direct Lending at Golub Capital. “Our ability to provide flexible, compelling solutions allows us to support companies like Colibri even in periods of market uncertainty.”
Golub Capital has partnered with Gridiron Capital for over ten years on seven unique portfolio companies.
“Golub Capital’s leadership on Colibri is another steppingstone in our long-term partnership where they have consistently proven their ability to deliver no matter the market conditions,” said Will Hausberg, Senior Managing Director at Gridiron Capital. “Their depth of expertise and breadth of financing solutions makes them a dependable partner that we are always pleased to work with.”
Golub Capital first became a lender to Colibri in 2021 and subsequently acted as Joint Lead Arranger on a $720 million refinancing in 2022.