Golub Capital Completes Two $2 Billion Unitranche Debt Facilities in September
NEW YORK, September 30, 2020 – Golub Capital is pleased to announce it recently led incremental financings to create the two largest U.S. dollar denominated unitranche facilities ever. The two financings — to MRI Software and Risk Strategies — are now each in excess of $2 billion. Golub Capital was Lead Left Arranger and Administrative Agent on both transactions in September.
“Large unitranche deals (unitranches bigger than $500 million) are a valuable new tool for private equity sponsors. We are proud to have led more than half of the large unitranche deals done this year and last,” said Andy Steuerman, Golub Capital’s Head of Middle Market Lending and Late Stage Lending.
“We have also been hard at work this year providing financing solutions to companies of all sizes, closing over 80 deals so far this year,” said Greg Cashman, Senior Managing Director at Golub Capital.
MRI Software provides mission-critical, SaaS-based enterprise software solutions to commercial and residential real estate owners, operators and investors globally. MRI Software is a portfolio company of TA Associates, Harvest Partners and GI Partners. Golub Capital has been Administrative Agent to MRI Software since TA Associates’ 2017 LBO, serving as Lead Left Arranger on 14 transactions, which include over 25 acquisitions.
Risk Strategies, a leading U.S. insurance broker, is a portfolio company of Kelso & Company. Since financing Kelso & Company’s acquisition of Risk Strategies in 2015, Golub Capital has supported Risk Strategies’ growth and acquisition plans through nine additional transactions.
About Golub Capital Middle Market Lending
Golub Capital is a market-leading, award-winning direct lender and credit asset manager, with over $30 billion of capital under management. Golub Capital’s Middle Market Lending group provides buy-and-hold financing for sponsor-backed transactions with hold positions of up to $600 million and arranges syndicated credit facilities up to $2 billion. The team specializes in delivering reliable, creative and compelling financing solutions to middle market companies.
Across its activities, Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from its private equity sponsor clients and investors. Founded over 25 years ago, Golub Capital today has over 500 employees and lending offices in Chicago, New York and San Francisco. For more information, please visit golubcapital.com.
About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses – from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI gives organizations the freedom to transform the way communities live, work and play while elevating their business and gaining a competitive edge. For more information, please visit www.mrisoftware.com.
About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.
About Harvest Partners, LP
Founded in 1981, Harvest Partners is a leading New York-based private equity investment firm that focuses on investments in middle-market companies in the business services & consumer, healthcare, industrial services and manufacturing & distribution sectors. This strategy leverages Harvest Partners’ 35+ years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit www.harvestpartners.com.
About GI Partners
Founded in 2001, GI Partners is a private investment firm based in San Francisco, California. The firm has raised $20 billion in capital from leading institutional investors around the world to invest in private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the Healthcare, IT Infrastructure, Services, and Software sectors. The real estate team invests across a broad range of platforms and strategies. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.
About Risk Strategies
Risk Strategies is a privately held, national firm with offices across the country. As a leading U.S. insurance broker, the company offers sophisticated risk management advice as well as insurance and reinsurance placement for property & casualty, healthcare and employee benefits risks. Risk Strategies serves commercial companies, nonprofits, public entities and individuals, and has access to all major insurance markets. Ranked among the top 15 brokers in the country, Risk Strategies has offices in more than 80 locations nationwide including Boston, New York City, Chicago, Minneapolis, Miami, Atlanta, Houston, Dallas, Nashville, Los Angeles and San Francisco. For more information, please visit www.risk-strategies.com.
About Kelso & Company
Kelso is one of the oldest and most established firms specializing in private equity investing. Since 1980, Kelso has invested approximately $14 billion of equity capital in over 125 transactions. Kelso was founded by the inventor of the Employee Stock Ownership Plan (“ESOP”) and, as a result, the principles of partnership and alignment of interest serve as the foundation of the firm’s investment philosophy. Kelso benefits from a successful investment track record, deep sector expertise, a long-tenured investing team, and a reputation as a preferred partner to management teams and corporates. Kelso has significant experience investing in financial services, having deployed over $3.0 billion of equity capital in the sector over the past decade. For more information, please visit www.kelso.com.