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Fifth Street Provides $110MM Facility to Support Permira Funds Acquisition

December 11, 2014, 07:53 AM
Filed Under: Technology

Fifth Street Asset Management Inc. announced today that its affiliates, including Fifth Street Finance Corp. and Fifth Street Senior Floating Rate Corp., have co-invested in a $110 million one-stop financing facility in connection with the acquisition of Metalogix H&S Holdings, Ltd. by a company owned by the Permira funds. Metalogix is a provider of collaboration, content and data management tools for various on-premise and cloud collaboration platforms, including Microsoft SharePoint, Exchange and Office 365. The financing facility consists of a first lien term loan and a revolving credit facility. Fifth Street Management LLC, FSC's and FSFR's investment adviser, served as lead arranger and administrative agent for the transaction.

Metalogix represents the Fifth Street platform's third financing in support of a Permira funds-owned company. Permira is a global private equity firm that advises funds with approximately €25 billion in total committed capital, specializing in five key sectors:  Consumer, Financial Services, Healthcare, Industrials and Technology, Media and Telecommunications (TMT).

"Consistent with our previous transactions together, we were impressed with Fifth Street's ability to structure a flexible financing solution in support of the Permira funds' vision, while committing to the entire facility in an expedited timeframe," said Nic Volpi, a Partner at Permira, adding, "We look forward to our continued partnership with Fifth Street and working together to help Metalogix achieve its growth objectives over the life of the investment."

"We are pleased to support the Permira funds on the acquisition of Metalogix, an industry leading software provider for mission critical collaboration platforms," noted Ivelin M. Dimitrov, FSAM's Chief Investment Officer, adding, "We believe the Permira funds' demonstrated investment expertise in the software industry will complement an already strong management team, and we are excited to partner with them to help accelerate the growth of the business."

Fifth Street Asset Management Inc. is a rapidly growing credit-focused asset manager. The firm has nearly $6 billion of assets under management across two publicly-traded business development companies, Fifth Street Finance Corp. and Fifth Street Senior Floating Rate Corp., as well as multiple private investment vehicles. The Fifth Street platform provides innovative and customized financing solutions to small and mid-sized businesses across the capital structure through complementary investment vehicles and co-investment capabilities.

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