Babson Capital Management was the lead arranger of financing to support Bridgepoint’s acquisition of financial industry software provider eFront from Francisco Partners for €300 million.
Babson co-arranged the debt financing in support of the acquisition alongside a group of banks which included ING, HSBC and Bank of Ireland. The debt facility included a revolving credit facility, a capex/acquisition facility, and a term loan.
eFront is a software provider for the alternative investments and risk management areas of the financial services industry. Its web-based software products automate many accounting, management and operational functions of private equity, venture capital and other alternative investment management firms. The company was founded in 1999 and serves more than 700 customers in 40 countries. The company is headquartered in Paris (www.efront.com).
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).
“Babson greatly values our longstanding relationship with Bridgepoint and we are pleased to provide support for the investment in eFront,” said David Wilmot, Managing Director at Babson. “We are excited about the strength of eFront’s business model, its unique positioning with private equity sponsors and alternative investments managers, and its ability to provide customized solutions that create a highly loyal customer base. We are confident that Bridgepoint’s financial and operational support will help the company reach its potential to deliver robust revenue and profit growth.”
Bridgepoint typically acquires businesses valued between €200 million and €1 billion. The firm’s lower middle market business, Bridgepoint Development Capital, specializes in investments in businesses valued between €20 million and €150 million. Sectors of interest include: business services, consumer, financial services, healthcare, manufacturing & industrials and media & technology. The firm has offices in Frankfurt, Istanbul, London, Luxembourg, Madrid, Paris, Stockholm, Warsaw and Shanghai (www.bridgepoint.eu).
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-18-15
