NEW YORK, May 19, 2009 /PRNewswire/ — Golub Capital today announced that it has provided a $22.0 million senior credit facility to support the acquisition of Hosting.com by HostMySite, Inc., a portfolio company of Wachovia Capital Partners (WCP), which contributed additional equity to close the transaction.
HostMySite is a leading hosting provider, delivering highly scalable solutions including managed hosting, dedicated hosting, virtual private servers, and shared hosting. WCP acquired HostMySite in June 2008, partnering with experienced industry executives Art Zeile and Joel Daly, who assumed the roles of CEO and COO, respectively. Hosting.com is a leading multi-location provider of managed hosting and colocation services to small- and medium-sized businesses.
The combination of HostMySite and Hosting.com creates a premier provider of managed hosting and colocation solutions with an industry-leading service offering and a nationwide footprint, including data centers in San Francisco, Irvine, Louisville, and Newark, Delaware.
“HostMySite is exactly the type of company we are excited to partner with in this difficult economic environment,” says Golub Capital Principal Troy Oder. “Despite challenging market conditions, the company’s performance has been strong, and its business model has proven to be resilient. WCP and management have done an excellent job building a platform with meaningful scale and diversity.”
This is Golub Capital’s first transaction with WCP.
“In a market where few lenders are lending, Golub Capital quickly recognized HostMySite’s strengths and delivered an attractive financing solution to facilitate the transaction,” says Scott Stevens, a Principal at WCP. “The acquisition of Hosting.com positions the company for continued growth, and we are confident in Golub Capital’s ability to support that growth.”
About Golub Capital
Golub Capital is a leading provider of financing solutions for the middle market, including one-loan financings, senior, second lien and subordinated debt, preferred stock and co-investment equity. The firm was named “Middle Market Lender of the Year” or similar for achievements in 2008 by three leading industry magazines: Buyouts Magazine, Mergers & Acquisitions (the official publication of ACG) and M&A Advisor. For more information, please visit the firm’s website at www.golubcapital.com.
About Wachovia Capital Partners
WCP is a private equity investment affiliate of Wachovia, a Wells Fargo Company, the nation’s fourth largest bank. WCP currently maintains an investment portfolio of roughly $1 billion.
First Call Analyst:
SOURCE: Golub Capital
CONTACT: Troy Oder, Principal for Golub Capital, +1-312-254-5742 or