Breakaway Capital, through its inaugural Breakaway Capital Partners Fund, L.P., has provided a senior secured credit facility to Wave Technology Solutions Group, a provider of consulting services.
“Breakaway Capital is a great partner for Wave. They were creative and flexible. Equally as important is the wealth of experience and relationships that Breakaway’s principals bring to an entrepreneurial owned and managed company like ours,” said Matt Vaezi, Chairman and Chief Executive Officer of Wave Technology Solutions Group.
Wave Technology is a provider of consulting services for enterprise content management; intelligent capture to transform high volume documents into actionable data; business process automation that reviews products or service flow to identify areas of automation, optimization, and re-engineering; records and retention management, eDiscovery and compliance; eMail management and archiving; and disaster recovery and prevention. Wave Technology has a customer base of over 200 enterprise-wide document and content management installations. The company was founded in 1992 and is based in Irvine, CA (www.waveimaging.com).
The Wave transaction represents Breakaway Capital’s second investment in 2015. According to Warren Woo, Managing Partner of Breakaway Capital, “We are thrilled to provide financing to Wave. Matt and his management team have built a quality company by providing value-added solutions to its broad base of Fortune 1000 and municipality customers. This transaction is representative of Breakaway’s strategy to provide complete one-stop financing solutions for lower middle market companies, financial sponsors and independent sponsors.”
Breakaway has approximately $50 million of committed capital under management and provides senior debt, subordinated and mezzanine debt, unitranche structures, structured equity and common equity to companies with up to $5 million of EBITDA. The firm targets leveraged buyouts, acquisitions, recapitalizations, restructurings and growth capital for both sponsored and non-sponsored transactions. Breakaway Capital Partners was founded by Warren Woo and is based in Los Angeles (www.breakawaycap.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-31-15
