LONDON, March 18, 2024 — Golub Capital acted as Sole Lender on a recurring revenue facility to support the refinancing and acquisition strategy of Hornetsecurity. Hornetsecurity, a Germany-based global cybersecurity leader, recently announced its acquisition of French cybersecurity company Vade. Additional terms of the deal were not disclosed. 

Hornetsecurity is a leading provider of cloud-based security solutions for email and data protection. The Company is backed by TA, Verdane and PSG Equity.  

The recurring revenue facility is comprised of a term loan, a revolver and a multi-currency delayed draw term loan. 

Since 2018, Golub Capital has provided more than $12 billion in financing commitments to TA. This is the Firm’s first transaction with Verdane and PSG Equity, respectively. 

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 Hornetsecurity
Hornetsecurity is a leading global provider of next-generation cloud-based security, compliance, backup, and security awareness solutions that help companies and organizations of all sizes around the world. Its flagship product, 365 Total Protection, is the most comprehensive cloud security solution for Microsoft 365 on the market. Driven by innovation and cybersecurity excellence, Hornetsecurity is building a safer digital future and sustainable security cultures with its award-winning portfolio. Hornetsecurity operates in more than 120 countries through its international distribution network of 12,000+ channel partners and MSPs. Its premium services are used by more than 75,000 customers. 

 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. More information about TA can be found at www.ta.com. 

About Verdane
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation.  

Verdane funds hold over €6.9 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdane’s team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.  

Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy. Verdane is partly owned by the Verdane Foundation, which is focused on focused on two areas: climate change and more equitable and inclusive local communities. 

About PSG Equity
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 130+ companies and facilitated over 470+ add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Madrid, Paris and Tel-Aviv. To learn more about PSG, visit www.psgequity.com.