Tree Line Capital Partners was the lead arranger and administrative agent for an $82.3 million first lien credit facility for Ingenio, a portfolio company of Alpine Investors.
Ingenio is an online platform that connects advice-seekers with coaches and advisors. Since founding, the Ingenio platform has enabled over 40 million phone, chat, and web–based personal advice conversations.
The company’s brands include Keen.com (personal advice); PsychicCenter.com (a community of astrologers, tarot readers, and clairvoyants); LiveAdvice.com (life-coaching, relationship coaching, and career advice); Ether.com (provides phone and email monetization tools to advice providers); Horoscope.com, Astrology.com, Horoscopo.com and AstroCenter.com (free horoscopes, paid astrological reports, games, and content).
Ingenio was founded in 1999 and was acquired by AT&T in 2007. It was acquired by Alpine Investors from AT&T in May 2013 and in July 2015 Ingenio acquired Horoscope.com. The company, led by CEO Warren Heffelfinger, has 80 employees and is headquartered in San Francisco (www.ingenio.com).
“We have enjoyed building a lasting relationship with the Tree Line team over the past six years across several transactions,” said Mr. Heffelfinger. “They have always been receptive to our needs and have responded with creative structures delivered in very efficient processes.”
“We have been extremely pleased with Ingenio’s strong performance and the long-term partnership we’ve built,” said Tom Quimby, a managing partner of Tree Line. “Our relationship with Ingenio is a great example of our ability to grow with a borrower from initial platform acquisition through various stages of growth. Warren and the team have built a best in class organization and we look forward to working with them in the years ahead.”
Tree Line is a direct lender focused on providing first lien term loans, unitranche term loans and equity co-investments to North American-based lower middle market companies with $3 million to $30 million of EBITDA. The firm currently manages $1.2 billion in investable capital and has completed over 75 transactions for acquisitions, recapitalizations, refinancings, expansion projects and other growth capital needs. Tree Line is headquartered in San Francisco with an additional office in New York (www.treelinecp.com).
Alpine invests in US or Canadian based software and services companies that have from $1 million to $30 million of EBITDA. The firm was founded in 2001 and is based in San Francisco (www.alpine-investors.com).
© 2019 Private Equity Professional | July 8, 2019
