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Fifth Street Arranges Credit Facility to Support GTCR’s Acquisition of Lytx

April 21, 2016, 07:56 AM
Filed Under: Specialty Industries

Fifth Street Asset Management Inc. announced today that its affiliate, Fifth Street Management LLC, served as joint lead arranger and joint lead bookrunner for a first lien credit facility to support GTCR’s acquisition of Lytx, Inc. (formerly known as DriveCam).  San Diego, CA-based Lytx is the leading provider of video-based safety solutions for commercial and public sector fleets, helping to improve driver behavior and reduce collisions and collision-related expenses.  The financing facility included investments from both Fifth Street Finance Corp. and Fifth Street Senior Floating Rate Corp.

Lytx is the tenth financing that Fifth Street has completed in support of GTCR.  Based in Chicago, IL, GTCR is a leading private equity firm focused on investing in growth companies and has deployed over $12 billion in over 200 businesses since its inception.

“We are pleased to support our long-standing partner, GTCR, on the acquisition of Lytx – the leading provider of video telematics solutions that deliver identifiable and significant returns on investment to its customers,” noted Sunny K. Khorana, Managing Director, Head of Sponsor Coverage at Fifth Street, adding, “With industry leading retention rates and highly innovative technology that drives best in class products, Lytx has a proven ability to grow across multiple avenues.  We look forward to working with both GTCR and company management over the life of the investment as they continue to execute on strategic initiatives.”

Fifth Street Asset Management Inc. is a nationally recognized credit-focused asset manager.  The firm has over $5 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.

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