CHICAGO, November 21, 2023 — Golub Capital acted as Left Lead Arranger on a $490 million incremental first lien term loan for Colibri Group (“Colibri”). The proceeds will be used to fund two acquisitions and repay an existing second lien term loan. The deal initially launched at $400 million and was then upsized by $90 million to fund a new tuck-in acquisition.
Colibri is an online learning management platform for licensing, continuing education, test preparation and professional development. It has been a portfolio company of Gridiron Capital since 2019.
“This transaction is reflective of the deal activity we are seeing in the current environment, with sponsors showing a particular interest in add-on acquisitions” said Spyro Alexopoulos, Co-Head of Direct Lending at Golub Capital. “Our ability to provide flexible, compelling solutions allows us to support companies like Colibri even in periods of market uncertainty.”
Golub Capital has partnered with Gridiron Capital for over ten years on seven unique portfolio companies.
“Golub Capital’s leadership on Colibri is another steppingstone in our long-term partnership where they have consistently proven their ability to deliver no matter the market conditions,” said Will Hausberg, Senior Managing Director at Gridiron Capital. “Their depth of expertise and breadth of financing solutions makes them a dependable partner that we are always pleased to work with.”
Golub Capital first became a lender to Colibri in 2021 and subsequently acted as Joint Lead Arranger on a $720 million refinancing in 2022.
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 October 1, 2023, Golub Capital had over 850 employees and over $60 billion of capital under management, a gross measure of invested capital including leverage. The firm has lending offices in New York, Chicago, Miami, San Francisco and London. For more information, please visit golubcapital.com.
About Colibri Group
Colibri Group is building the future of professional education. Today, millions of licensed professionals start and advance their careers through the company’s online and in-person learning solutions for licensing, continuing education, test preparation and professional development. Headquartered in St. Louis, Missouri, Colibri Group provides a holistic learning experience for students and professionals to achieve more and thrive throughout their careers in real estate, financial services, teacher education, healthcare, valuation and property services, among other professions. Visit colibrigroup.com for more information
About Gridiron Capital
Gridiron Capital is an investment firm focused on partnering with founders, entrepreneurs, and management teams, and creating value by building middle-market companies into industry-leaders in branded consumer, B2B and B2C services, and niche industrial segments in the United States and Canada. We help transform growing companies by winning together through hard work, partnerships grounded in shared values and a unique culture that comes from hands-on experience building and running businesses. As a team led by former operators and entrepreneurs, we know what it takes to run successful businesses on a day-to-day basis. Additional information is available on the firm’s website: www.gridironcapital.com.