Growth capital investor Crown Capital Partners has provided a $15 million, five-year term loan to Bill Gosling Outsourcing, a provider of call center services. The loan was provided by Crown Capital Fund IV, LP, a fund managed by Crown and in which Crown holds a 50% interest. The term loan bears an annual fixed rate of 12%.
Bill Gosling Outsourcing (BGO) operates nine call centers in Canada, the US, the UK and Philippines that provide services such as accounts receivable management, customer care, and customer sales & acquisition. BGO’s customers include Fortune 100 and Fortune 1000 companies that are active in the financial, communications, utility and government sectors. The company has approximately 2,000 employees and is headquartered north of Toronto in Newmarket, Ontario (www.billgosling.com).
“Bill Gosling Outsourcing is a successful, well-managed company and is a leader in its niche,” said Chris Johnson, Crown’s President and CEO. “Building on its successes, BGO will continue to benefit from the ongoing shift to business process outsourcing. Driven by growth from key customers and its Philippines expansion, BGO expects to increase revenue and EBITDA significantly over the next three years.”
Crown Capital (TSX: CRN) is a specialty finance company that provides capital to Canadian and select US private and public companies that have annual revenues from $30 million to $500 million. The firm’s products are typically structured as loans, royalties or other structures that have minimal or no ownership dilution. Crown Capital is led by Christopher Johnson, President and CEO, who co-founded the firm in 2000. Crown Capital has offices in Calgary and Toronto (www.crowncapital.ca).
BGO was founded in 1955 by John Rae as Allied International Credit. The company was sold in 1990 to CEO David Rae (John Rae’s son).
“The Crown team clearly understands how to work with entrepreneurs and growth companies, and they provided a financial solution that is aligned with our business requirements and plans,” said Mr. Rae.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-26-16
