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Golub Capital Provides $195MM Facility in PowerPlan Acquisition

February 24, 2015, 07:19 AM
Filed Under: Technology

Golub Capital announced that as Joint Lead Arranger, Joint Bookrunner and Senior Administrative Agent, it provided a $195 million senior credit facility to support the acquisition of PowerPlan, Inc. by Thoma Bravo, LLC.

PowerPlan is an enterprise software company devoted to helping asset-centric businesses in the utilities, oil and gas, transportation, telecommunications, and mining industries optimize their financial performance. The Company combines purpose-built software for asset-centric accounting, tax and budgeting/analytics with domain expertise to help executives generate cash, mitigate compliance risk and enable a culture of cost management. PowerPlan manages more than $2.3 trillion in assets for some of the world's most demanding asset-intensive companies.

PowerPlan marks the sixth Thoma Bravo portfolio company Golub Capital has invested in to date. The firm's most recent transactions include the acquisitions of Sparta Systems and Global Healthcare Exchange, both closed in 2014.

"We believe PowerPlan is a leading enterprise-class provider with an extraordinary management team," stated Spyro Alexopoulos, Managing Director at Golub Capital. "We are thrilled to be working yet again with our long-time partner and world-class sponsor Thoma Bravo."

"Golub Capital provided a deep understanding of the industry and our execution strategy, which provided us with confidence they would deliver an effective financing solution," said Peter Stefanski at Thoma Bravo. "Golub Capital once again exceeded our high expectations for a financing partner."   

Golub Capital's award winning middle-market lending team structures financing solutions with hold positions of up to $250 million. The team also underwrites and syndicates senior credit facilities and a proprietary suite of GOLD (one-loan debt) facilities, up to $500 million. As of YE 2014, Golub Capital has been #1 for four years in a row for senior secured loans of up to $100 million for leveraged buyouts (according to Thomson Reuters LPC and internal data; based on number of deals).

Thoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. The firm seeks to create value by collaborating with company management to improve business operations and provide capital to support growth initiatives. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. The firm currently manages a series of private equity funds representing more than $7.5 billion of equity commitments.

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