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Golub Capital Provides Debt Facility to Finance Carlyle Group Acquisition

October 12, 2016, 07:31 AM
Filed Under: Telecom

Golub Capital announced that as administrative agent, sole bookrunner and sole lead arranger, it provided GOLD financing to The Carlyle Group ("Carlyle") to finance its acquisition of NetMotion Wireless, Inc. ("NetMotion") from Clearlake Capital Group ("Clearlake"). GOLD financings are Golub Capital One-Loan Debt facilities.

NetMotion provides mobile performance management software that accelerates business-critical applications, hybrid networks and mobile devices. The company's products are lauded throughout the industry, having won over 30 industry awards for outstanding technology. NetMotion's products are used by more than 3,500 organizations globally across multiple industries including utilities, healthcare, telecommunications, public safety, government, insurance and manufacturing. Their solutions significantly improve the mobile end-user experience and empower IT with a software-defined mobility platform to manage their mobile enterprise.

"We are thrilled to partner with The Carlyle Group on a One Carlyle deal for the next chapter of the NetMotion story. NetMotion provides private and public organizations from first responders to large enterprises with vast networks vital connectivity for essential day to day operations," said Hyun Chang, Managing Director at Golub Capital.  "We are fortunate enough to maintain strong relationships with industry-leading private equity partners like Clearlake, which afforded us an early look at this attractive opportunity. We look forward to continuing our relationships with our partner firms, which have strong track records and high growth potential."

Michael Wand, Managing Director at The Carlyle Group and Head of the Carlyle Europe Technology Partners team, said: "Having worked with the CEO Christopher Kenessey before at a former portfolio company, we are confident that he and his team will be able to develop NetMotion into a next-generation mobile performance management solution provider with global scale. This is a true One Carlyle deal, with two Carlyle funds supporting the transatlantic expansion growth plans of a mid-sized US technology business that was looking for a partner with industry expertise and worldwide reach. One of the key growth regions for NetMotion is Europe where the company has early customer successes and a market ready for disruption."

Behdad Eghbali, Managing Partner at Clearlake said, "Golub Capital was the obvious choice when seeking a reliable, efficient partner. Based on our Syncsort financing experience, Golub's unitranche debt solution provides a myriad of benefits to the sponsor, making it a stable and reliable financing option."

NetMotion marks the second lead software transaction Golub Capital has completed with The Carlyle Group. Golub Capital provided Carlyle with a GOLD facility to partner with company management to acquire ECi Software Solutions in 2014.

Golub Capital's Middle Market Lending group provides financing for middle market, private equity-backed transactions with hold positions of up to $300 million and is an arranger of credit facilities up to $750 million. Golub Capital's award winning team strives to establish long-term, win-win partnerships by providing dependable, fast and creative solutions that meet private equity sponsors' and portfolio companies' needs.

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