Babson Backs TA Buy
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Babson Backs TA Buy

babson nf3Babson Capital Management was the agent on a senior secured credit facility used to support the acquisition of VFA by Accruent, a portfolio company of TA Associates acquired in November 2013. The new debt from Babson included a revolving credit facility and a term loan facility.

VFA is a provider of facilities management services. The company’s flagship software product, VFA.facility, is used to manage more than 4 billion square feet of real estate. VFA is headquartered in Boston (www.vfa.com).

This is the third Accruent transaction where Babson has partnered with TA Associates.  Babson provided a debt facility to support TA’s acquisition of the company in 2013 and provided additional credit for the August 2014 add –on acquisitions of Four Rivers Software Systems (Pittsburgh, PA) and SiteFM (Austin, TX).  Both are providers of healthcare facilities management software.

Hythem El NF1“Babson has been a valuable partner for TA Associates in financing strategic acquisitions that have made Accruent a market leader,” said Hythem El-Nazer, Director of TA Associates. “Babson’s reliability and its capacity to provide surety to close were critical to completing these transactions, and we look forward to the opportunity to work with Babson again soon.”

Babson Capital has $212 billion in assets under management and is a member of the MassMutual Financial Group. The firm has offices in Boston and Springfield, MA; New York, Chicago, Charlotte and Los Angeles, and nine other offices in Europe, Asia and Australia (www.BabsonCapital.com).

ian fowler nf1“Babson values the successful partnership we’ve shared with TA Associates over the past two decades,” said Ian Fowler, Managing Director and head of Babson’s US Middle Market Lending Group. “We are excited about Accruent’s growth, and the opportunity to leverage the global resources and deep industry expertise of TA Associates to create enterprise solutions that deliver great value for Accruent’s customers.”

Accruent provides market planning, site selection, project management, lease administration, facilities and space management software that is purpose-built for specific industries. The company was founded in 1995 and is headquartered in Austin, TX (www.accruent.com).

TA Associates makes buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. Since founding in 1968, TA has invested in over 450 companies globally and has raised more than $18 billion in capital. The firm has offices in Boston, Menlo Park, London, Mumbai and Hong Kong (www.ta.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 2-13-15

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