Press Release - Golub Capital

NEW YORK, November 11, 2024 — Golub Capital acted as Administrative Agent, Left Lead Arranger and Joint Bookrunner on a $330 million unitranche facility for Crunch Fitness. Terms of the deal were not disclosed.

Crunch Fitness is a U.S.-based health club chain of over 450 franchised and corporate owned fitness clubs globally. It has been a portfolio company of TPG Growth since 2019.

The $330 million unitranche facility is composed of a $40 million revolving credit facility and a $290 million first-lien term loan.

About Golub Capital Sponsor Finance
Golub Capital is a market-leading, award-winning direct lender and experienced private credit manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. The firm’s Direct Lending group provides buy-and-hold financing for sponsor-backed transactions with hold positions up to $700 million and arranges syndicated credit facilities up to $2 billion.

As of July 1, 2024, Golub Capital had over 950 employees and over $70 billion of capital under management, a gross measure of invested capital including leverage. The firm has offices in North America, Europe and Asia. For more information, please visit golubcapital.com.

Private equity-backed companies continue to demonstrate resilience and adaptability, consistent with the last 8 quarters.

The Golub Capital Altman Index can provide early insight into financial performance of public companies and GDP in advance of earnings season.

NEW YORK, October 9, 2024 – Middle market private companies in the Golub Capital Altman Index grew earnings by 8% during the first two months of the third quarter of 2024. Revenue grew 5% during the same period.

Lawrence E. Golub, CEO of Golub Capital, said, “Solid revenue and earnings growth continued for companies in the Golub Capital Altman Index for the eighth consecutive quarter. The cost discipline and pricing power we highlighted throughout the recent inflationary period continues to pay dividends for many companies in our sample, as aggregate earnings growth materially outpaced aggregate revenue growth for the fifth consecutive quarter. These encouraging trends come with a caveat. Dispersion in operating performance is increasing, both in our sample and in the broader credit market. Even in a strong sector like Technology, which posted another quarter of double-digit earnings growth, there’s a striking performance gap between mission-critical enterprise software providers with dominant market share and others in more fragmented and competitive markets. We expect to see greater performance dispersion in the coming period, both within and across sectors.”

Dr. Edward I. Altman said, “We noted in last quarter’s report that the balance of headwinds and tailwinds facing consumers would be an important dynamic for investors to watch in the second half of 2024. Our sample of Consumer companies painted a mixed picture in Q3 2024, much like recent macroeconomic data. Solid revenue and EBITDA growth, in aggregate and in most sectors in our sample, suggests consumer spending continued to surpass low expectations, while a slight decline in EBITDA year-over-year indicates that wage growth and labor market strength continued to put pressure on margins. These mixed signals, together with increased dispersion in operating performance, illustrate that while many companies are adapting well to this environment, the lowest-performers are falling further behind. Our data suggests that skill at avoiding problem credits, especially for firms that are vulnerable to relatively high interest costs, and at managing problems effectively when they occur, are likely to be key drivers of investor returns in the coming period.”

The Golub Capital Altman Index (“GCAI”), which is produced by Golub Capital in collaboration with credit expert Dr. Edward I. Altman, is the first and longest-running index based on actual revenue and earnings (defined as earnings before interest, taxes, depreciation and amortization, or “EBITDA”) for middle market companies. It measures the median revenue and earnings growth of approximately 110–150 private U.S. companies in the loan portfolio of Golub Capital, a leading middle market lender. Reported shortly before public company quarterly earnings season, the GCAI has served as a reliable indicator of the overall growth rates in revenue and earnings of public companies in market indexes such as the S&P 500 and S&P SmallCap 600 (“S&P 600”), as well as quarterly Gross Domestic Product (“GDP”), according to statistical back-testing dating back to 2012, when data began to be tracked.

The size and diversity of the Golub Capital loan portfolio ensure that the confidentiality of all company-specific information used in the index is maintained in both the aggregate and industry segment data.

We believe the results (1) are representative of the general performance of middle market companies, which are a major contributor to U.S. private sector employment; (2) can be easily compared to the performance of the public companies that make up major stock indexes; (3) are relevant to the aggregate economic performance of the U.S. economy and (4) provide timely information for the investment community.

The companies in the GCAI operate in a wide range of industries. Results are provided for the total universe of GCAI constituents and by industry segment. Given the index’s limited exposure to Financials, Utilities, Energy and Materials, comparisons are made to the S&P 500 and S&P 600 as well as to “adjusted” versions of those indexes that exclude the aforementioned sectors.

About the Golub Capital Middle Market Report
The Golub Capital Middle Market Report analyzes the results of the Golub Capital Altman Index (“GCAI”), which measures the median revenue and earnings growth of approximately 110–150 privately owned companies in the Golub Capital loan portfolio for the first two months of each calendar quarter. It compares these results to the financial performance of well-known market indexes, including the S&P 500 and S&P SmallCap 600. The GCAI is produced by Golub Capital in collaboration with credit expert Dr. Edward I. Altman. Effective Q2 2022, the GCAI excludes Golub Capital portfolio companies that have recurring revenue-based credit facilities. The data referenced herein may not reflect all companies in the loan portfolio of Golub Capital during the time periods indicated.

About Golub Capital
Golub Capital is a market-leading, award-winning direct lender and experienced private credit manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Our sponsor finance expertise also forms the foundation of our Broadly Syndicated Loan and Credit Opportunities investment programs. We nurture long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.

About Dr. Edward I. Altman
A leading expert on credit markets, Dr. Edward I. Altman is the Max L. Heine Professor of Finance, Emeritus at the NYU Stern School of Business, and Director of Research in Credit and Debt Markets at the NYU Salomon Center for the Study of Financial Institutions. He is currently an advisor to several foreign central banks. Professor Altman has published or edited two-dozen books and over 150 articles in scholarly finance, accounting and economic journals. He has been inducted into the Fixed Income Analysts Society Hall of Fame, served as President of the Financial Management Association, was an FMA Fellow, and was amongst the inaugural inductees into the Turnaround Management Association Hall of Fame. He received his MBA and Ph.D. in Finance from the University of California, Los Angeles.

Important Disclosure
The Golub Capital Altman Index is provided as an indicator only and does not constitute investment advice or the offer to sell or a solicitation to buy any security. Some of these statements constitute forward-looking statements, which may be predictions about future events, future performance, or future financial conditions. Some of these statements reflect opinions based upon the data presented in the Index, and these opinions may be incorrect. Actual results could vary materially from those implied or expressed in such forward-looking statements for any reason. The Golub Capital Altman Index has been created on the basis of information provided by third-party sources that are believed to be reliable, but the information has not been verified independently by Golub Capital. Golub Capital makes no warranty or representation as to the accuracy or completeness of such third-party information.

NEW YORK, September 30, 2024/ TOKYO, October 1, 2024 – Mizuho Financial Group, Inc. (together with its affiliates, “Mizuho”) and Golub Capital LLC (together with its affiliates, “Golub Capital”) today announced a strategic partnership.

As part of the agreement, Mizuho has purchased a passive, non-voting minority stake¹ in Golub Capital’s management companies, and Mizuho will serve as a strategic distribution partner for Golub Capital in Japan, including being the exclusive distributor of Golub Capital’s investment products to retail and high net worth investors in the country. Additionally, Mizuho and Golub Capital will explore collaborating on future “win-win” business opportunities to better serve their respective key stakeholders.

Golub Capital plans to use the proceeds from Mizuho’s investment to further enhance its ability to deliver distinctive, compelling and reliable financing solutions to private equity sponsors. All proceeds from the transaction will remain invested in Golub Capital.

“This strategic partnership represents a strong endorsement of our franchise by a global financial institution with a home office in Japan,” said David Golub, President of Golub Capital. “We remain focused on deepening our commitment to investors in Japan and delivering more opportunities to investors seeking access to our proven private credit strategies.”

This announcement marks the first time Mizuho has taken a direct stake in a U.S.-based private credit asset manager. Golub Capital’s strategy, management team and day-to-day operations will not change as a result of Mizuho’s investment. Mizuho’s stake represents an economic interest in Golub Capital’s management companies of less than 5%. Additional terms of the investment were not disclosed.

“We are delighted to partner with Golub Capital, a leading alternative asset manager, to meet the increasingly diversified needs of investors in Japan,” said Masahiro Kihara, President and GCEO of Mizuho Financial Group, Inc. “Mizuho will continue to enhance its investment capabilities and expand its product lineup, contributing to both individual wealth growth in Japan and the continued success of our asset management business.”

Mizuho and its affiliate, Greenhill & Co., acted as financial advisor and Fried, Frank, Harris, Shriver & Jacobson LLP and Davis Polk & Wardwell LLP acted as legal advisors to Mizuho. Evercore served as financial advisor and Kirkland & Ellis LLP served as legal counsel to Golub Capital on the transaction.

Mizuho
Mizuho Financial Group, Inc. is the 17th largest bank in the world as measured by total assets of ~$2 trillion, according to S&P Global 2024. Mizuho’s 65,000 employees worldwide offer comprehensive financial services to clients in 36 countries and 850 offices throughout the Americas, EMEA, and Asia.

Mizuho Bank, Ltd., the banking arm of Mizuho Financial Group, Inc., is a leading global bank with one of the largest customer bases in Japan and an extensive international network covering financial and business centers around the world. We continue to pride ourselves on our “customer first” principle as a centerpiece in servicing both our individual and corporate customers with the goal of becoming their most trusted bank.

Mizuho has positioned “Support for the Doubling of Asset-based Income” as one of the key focus areas in our medium-term business plan. Mizuho will continue to enhance its investment capabilities and expand its product lineup, contributing to individual wealth growth in Japan by providing investment opportunities in high-quality investment products that meet the diversifying needs of investors. For more information, please visit https://www.mizuhogroup.com.

Golub Capital
Golub Capital is a market-leading, award-winning direct lender and experienced private credit manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. Our sponsor finance expertise also forms the foundation of our Broadly Syndicated Loan and Credit Opportunities investment programs. We nurture long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.

Investment made by Mizuho Bank, Ltd., the banking arm of Mizuho Financial Group, Inc.

NEW YORK, July 17, 2024 — Golub Capital acted as Administrative Agent, Left Lead Arranger and Sole Bookrunner on a unitranche facility to support TA Associates’ acquisition of Community Brands’ Association & Events (“A&E”) and Nonprofit Solutions divisions. Terms of the deal were not disclosed.

The acquired A&E and Nonprofit Solutions division will form the basis of TA’s newly-created strategic platform, Momentive Software. Momentive is dedicated to providing purpose-driven organizations with the cloud-based software, services and payment solutions needed to move their missions forward.

The unitranche facility is composed of a revolver, term loan and delayed draw term loan. Golub Capital’s capital markets team successfully lead an oversubscribed syndication of a group of 15 diverse lenders.

Golub Capital has been a lender to Community Brands since 2018, and has a longstanding relationship with TA. As of June 30, 2024, Golub Capital has over $29 billion of software and technology capital under management across 185 active portfolio companies.

As of April 1, 2024, Golub Capital had over 925 employees and over $70 billion of capital under management, a gross measure of invested capital including leverage. The firm has offices in North America, Europe and Asia. For more information, please visit golubcapital.com.

About Momentive Software (formerly Community Brands)
Momentive Software amplifies the impact of over 30,000 purpose-driven organizations in over 30 countries. Mission–driven organizations and associations rely on the company’s cloud-based software and services to solve their most critical challenges: engage the people they serve, simplify operations, and grow revenue. Built with reliability at the core and strategically focused on events, careers, fundraising, financials, and operations, our solutions suite is bound by a common purpose to serve the organizations that make our communities a better place to live. Learn more at communitybrands.com.

About TA
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. For more information, visit: www.ta.com.

Private equity backed companies show solid revenue and earnings growth, consistent with the last 7 quarters.

The Golub Capital Altman Index can provide early insight into financial performance of public companies and GDP in advance of earnings season.

NEW YORK, July 9, 2024 – Middle market private companies in the Golub Capital Altman Index grew earnings by 11% during the first two months of the second quarter of 2024. Revenue grew 7% during the same period.

Lawrence E. Golub, CEO of Golub Capital, said, “Q2 2024 performance was once again strong, marking the seventh consecutive quarter of robust median revenue and earnings growth for companies in the Golub Capital Altman Index. That said, there was notable divergence between the relatively less strong performance of the Consumer sector and the double-digit earnings growth of the Healthcare, Industrials and Technology sectors. We have been anticipating a reduced growth rate in the Consumer sector as the effects of pandemic-era stimulus and excess savings continue to run off. These numbers are actually a little better than expected in that context, as wage growth, job creation, immigration and low unemployment have kept consumer spending reasonably healthy. We believe the balance of headwinds and tailwinds facing consumers will be an important dynamic for investors to watch in the second half of 2024.”

Dr. Edward I. Altman said, “The strong Q2 2024 performance of Healthcare, Industrial and Technology companies in the Golub Capital Altman Index sample is an encouraging sign heading into public company earnings season. At the same time, we would caution against over-optimism; recent macroeconomic data has been mixed, with strong June jobs growth appearing alongside weakness in areas like housing starts and the ISM Services index. Another economic headwind in the first half of 2024 was the challenge to many firms to meet escalating interest payments on their higher levels of debt. We believe it’s prudent for investors to remain humble about risk and uncertainty in today’s environment and to focus on investments and strategies that are likely to perform well across a wide range of potential scenarios.”

NEW YORK, July 8, 2024 — Golub Capital acted as Administrative Agent for the debt facility to support KKR’s significant minority investment in Quick Quack Car Wash. Proceeds will be used to support the continued acceleration of Quick Quack’s growth through innovation, marketing and organic expansion in new and existing markets.

Quick Quack Car Wash is one of the largest and fastest growing express format car wash operators in the U.S., with over 230 locations across California, Texas, Arizona, Utah and Colorado. Quick Quack’s founders and existing investor Seidler Equity Partners will continue to hold meaningful stakes alongside KKR.

The unitranche facility is composed of a term loan, revolver and delayed draw term loan. Golub Capital also provided a equity co-investment.

Golub Capital has been lead lender to Quick Quack Car Wash since 2018 and has supported the company’s growth through multiple add-on financings.

About Quick Quack Car Wash
Quick Quack Car Wash is “Fast. Clean. Loved… Everywhere.” Quick Quack has over 230 locations in California, Texas, Arizona, Utah, and Colorado and is regularly recognized for its community-building efforts as well as its environmentally friendly business practices. Quick Quack celebrates a company culture of “Smart, Kind, and Driven” with leaders, team members, and community partners working together to ensure that customers “Don’t Drive Dirty!” More information is available online at www.DontDriveDirty.com.

About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing worldclass people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Seidler Equity Partners
Seidler Equity Partners and its affiliates have been investing in market-leading companies since 1992. SEP aligns with business founders and management teams to achieve long-term growth and preserve company stewardship. For more information, visit www.SEPfunds.com.

CHICAGO, June 6, 2024 — Golub Capital acted as Administrative Agent, Lead Arranger and Sole Bookrunner on a unitranche facility to support Freddy’s Frozen Custard & Steakburgers (“Freddy’s”). The facility is composed of a term loan and a revolver; proceeds will be used to support Thompson Street Capital Partners’ (“TSCPs’”) refinancing of the Company’s existing first lien credit facility. Additional deal terms were not disclosed.

Freddy’s is a fast casual franchisor of steakburgers, shoestring fries and freshly churned frozen custard. It was acquired by TSCP in 2021.

“This transaction demonstrates the flexibility offered by private credit and the simplicity of unitranche facilities which allow businesses to stay focused on success,” said Spyro Alexopoulos, Co-Head of Direct Lending at Golub Capital. “We’re delighted to further our partnership with TSCP with this transaction.”

“Golub Capital provided ease of execution and flexibility. We look forward to this next phase of growth for Freddy’s,” said Alexis Vanstone, Director at TSCP.

Golub Capital was previously a lender to Freddy’s in 2021 on a unitranche facility. Golub Capital manages over $12 billion across more than 75 portfolio companies in the consumer, restaurant and retail industry, including over $1.3 billion in the restaurant industry.

About Freddy’s
Freddy’s is a leading fast-casual franchise concept with more than 500 locations across 36 states nationwide. Founded in Wichita, Kansas, in 2002, the brand offers a unique combination of cooked-to-order steakburgers, all-beef hot dogs, shoestring fries and other savory items along with freshly churned frozen custard treats. Known for operating the Freddy’s Way, guests experience genuine hospitality and food prepared fresh with premium ingredients. This signature approach has fueled Freddy’s ongoing growth throughout the U.S. and garnered national recognition from industry-leading rankings, including being named No. 23 on Fast Casual’s Top 100 Movers + Shakers, No. 67 on Entrepreneur’s Franchise 500, No. 78 on Entrepreneur’s 2024 Fastest-Growing Franchises and No. 36 on Yelp’s 50 Most Loved Brands. For more on Freddy’s, visit the Newsroom and follow us on Facebook, Twitter, and Instagram. For more information about development opportunities, visit https://freddysfranchising.com/.

About Thompson Street Capital Partners
Thompson Street Capital Partners (tscp.com) is a middle-market private equity firm that helps transform already exceptional businesses into market leaders. Based in St. Louis, Missouri, TSCP invests globally in the life sciences and healthcare, software and technology, business and consumer services and products sectors. TSCP partners with management teams to increase value by accelerating growth, both organically and via complementary acquisitions.

HARTFORD, Conn., and NEW YORK, June 3, 2024 – Nassau Financial Group (“Nassau”), a leading provider of fixed annuities and asset management, and Golub Capital, a market-leading direct lender and experienced credit asset manager, today announced they have signed a definitive agreement to enter into a strategic partnership.

As part of this strategic partnership, Nassau will receive a $200 million minority non-voting common equity investment from Golub Capital. This investment provides capital to support Nassau’s growth strategy, including through organic growth and acquisitions, and further strengthens its balance sheet. Nassau and Golub Capital also will enter into a long-term Investment Management Agreement that will provide Nassau’s insurance subsidiaries with access to Golub Capital’s middle market direct lending strategies, through tailored capital-efficient solutions.

“We are excited to expand our investor group as we begin a new strategic partnership with Golub Capital,” said Phil Gass, Chairman and CEO of Nassau. “In addition to their significant capital investment, Golub Capital brings a market-leading track record in direct lending that will expand our balance sheet investment capabilities in support of our continued growth.”

“Nassau has built an outstanding annuities business, and we are excited to be a part of the next chapter of its growth. This partnership also represents another key milestone in our Insurance Solutions efforts,” said David Golub, President of Golub Capital. “We are delighted to provide Nassau with both capital-efficient investment solutions in our market-leading direct lending capabilities and strategic capital.”

With this transaction, Golub Capital will be the largest minority equity holder in Nassau, following investments from Fortress Investment Group in 2023 and Wilton Reassurance Company and Stone Point Credit in 2021. Nassau was founded with an initial capital commitment along with subsequent growth capital provided by Golden Gate Capital, which remains Nassau’s majority controlling equity holder.

Goldman Sachs served as exclusive financial advisor and Sidley Austin LLP served as legal advisor to Nassau. Morgan Stanley & Co. LLC served as exclusive financial advisor and Kirkland & Ellis and Foley Hoag served as legal advisors to Golub Capital.

The transaction is expected to close in the second half of 2024 and is subject to customary closing conditions, including receipt of regulatory approvals.

About Nassau Financial Group
Based in Hartford, Connecticut, Nassau Financial Group is a growth-focused financial services company with insurance and asset management businesses. A leading fixed annuity insurance carrier, Nassau provides comprehensive and customizable retirement solutions, delivered with advanced digital capabilities and industry-leading service. Nassau Asset Management oversees the assets of Nassau’s insurance companies and offers its specialty investment strategies to third-party clients. These strategies include public and private debt, CLO debt and equity, real estate debt and equity, and alternatives.

Nassau was founded in 2015 and has grown to $24 billion in assets under management and $1.6 billion in total adjusted capital, and about 379,000 policies and contracts as of March 31, 2024. For more information, visit nfg.com.

About Golub Capital
Golub Capital is a market-leading, award-winning direct lender and experienced credit asset manager. Golub Capital specializes in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. The Firm’s sponsor finance expertise also forms the foundation of its Broadly Syndicated Loan and Credit Opportunities investment programs. Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from private equity sponsors and investors.

As of April 1, 2024, Golub Capital had over 925 employees and over $70 billion of capital under management, a gross measure of invested capital including leverage. The Firm has offices in North America, Europe and Asia. For more information, please visit golubcapital.com

LONDON, May 28, 2024 — Golub Capital participated as a Lender on a unitranche facility to support Permira’s acquisition of GGW Group. Existing owner Hg, a leading investor in European and transatlantic software and services businesses, will retain a co-controlling stake. Additional terms of the deal were not disclosed.

GGW Group is one of the leading European insurance brokerage platforms for small and medium-sized enterprises. It was formed with Hg’s support in 2020.

The unitranche facility is composed of a term loan, delayed draw term loan and a revolving credit facility.

Golub Capital has completed more than 20 insurance brokerage transactions since 2018. This is the Firm’s first transaction with Permira.

About Golub Capital Sponsor Finance
Golub Capital is a market-leading, award-winning direct lender and experienced credit asset manager. We specialize in delivering reliable, creative and compelling financing solutions to companies backed by private equity sponsors. The firm’s Direct Lending group provides buy-and-hold financing for sponsor-backed transactions with hold positions up to $700 million and arranges syndicated credit facilities up to $2 billion.

As of January 1, 2024, Golub Capital had over 875 employees and over $65 billion of capital under management, a gross measure of invested capital including leverage. For more information, please visit golubcapital.com.

About GGW Group
The GGW Group is a group of highly qualified and owner-managed insurance brokers, bundled under the umbrella brand LEADING BROKERS UNITED, and high-profile MGA´s, bundled under WECOYA UNDERWRITING. The independence and entrepreneurial freedom of the individual companies and the bundling of their expertise, which has grown over 265 years, are key features of the GGW Group. The GGW Group was founded at the beginning of 2020, has since acquired more than 50 partner companies and employs today more than 1,700 people. The company is headquartered in Hamburg.

About Permira
Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds with total committed capital of approximately €80bn and makes long-term majority and minority investments across two core asset classes, private equity and credit. The Permira private equity funds have made approximately 300 private equity investments in four key sectors: Technology, Consumer, Healthcare and Services.

The Permira funds have an extensive track record in the Services sector, having invested more than €12bn in 40 high growth companies across a range and industry verticals, including industrial, financial and business services. Permira employs over 500 people in 15 offices across the United States, Europe and Asia.

The Permira funds have previously backed and helped scale some of the largest and fastest-growing tech-enabled services businesses globally, including Safti, Klarna, Alter Domus, Tricor, Kroll, Relativity and Lytx. For more information, visit www.permira.com.

About Hg
Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers.

This industry is characterised by digitization trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.

With a vast European network and strong presence across North America, Hg’s 400 employees and around $70 billion in funds under management support a portfolio of around 50 businesses, worth over $140 billion aggregate enterprise value, with around 110,000 employees, consistently growing revenues at more than 20% annually. Additional information is available at www.hgcapital.com.

LONDON, May 13, 2024 — Golub Capital acted as Sole Lender on a recurring revenue facility for Matrix42. The proceeds will be used to support the acquisition of Efecte Plc (“Efecte”) in a take private transaction.

Matrix42 is a leading provider of innovative solutions for digital workspace experience management, unified endpoint management and enterprise service management, and has been a portfolio company of Corten Capital since 2021. Efecte helps people digitalize and automate their work. The use cases for Efecte’s solutions range from IT service management and ticketing to improving employee experiences, business workflows and customer service. The acquisition will be transformative for Matrix42 and creates a leading European player in the service management market.

Golub Capital has acted as Sole Lender to Matrix42 and Corten Capital in two previous transactions.

About Matrix42
Matrix42 is a leading provider of innovative solutions for digital workspace experience management, unified endpoint management, and enterprise service management. The company’s products and services empower organizations to improve IT efficiency, enhance end-user productivity, and enable digital transformation. With over 25 years of experience and a customer base spanning across various industries and regions, Matrix42 is trusted by enterprises worldwide for its reliable and comprehensive solutions.

About Efecte
Efecte helps people digitalize and automate their work. Customers across Europe leverage Efecte’s cloud service to operate with greater agility, to improve the experience of end-users, and to save costs. The use cases for Efecte’s solutions range from IT service management and ticketing to improving employee experiences, business workflows, and customer service. Efecte is the European alternative to the global goliaths in Efecte’s space. Efecte’s headquarters is located in Finland and Efecte has regional hubs in Germany, Poland, Spain and Sweden.

About Corten Capital
Corten Capital is a specialist investment firm that partners with entrepreneurial management teams to build market leading, B2B software, services and information companies across Europe and North America. Corten is backed by an exceptional group of university endowments, charitable foundations and family offices from North America, Europe, and Asia, who share its philosophy of investing for long term value creation through growth and innovation. Corten Advisors UK LLP is authorised and regulated by the Financial Conduct Authority in the UK.