Breakwater Investment Management has provided senior secured bridge financing for WebXU, an operator of consumer-branded websites and online businesses. “We approached Breakwater for a bridge loan and additional growth capital financing following our recent acquisition of Lot 6 Media,” said Matt Hill, Chairman and CEO of WebXU. “This financing from Breakwater frees up working capital to support WebXU’s accelerated growth. We are extremely pleased to be working with the professionals at Breakwater.”
WebXU is a media company that owns and operates a network of consumer-branded websites and online businesses. WebXU connects consumers with financial services, insurance, higher education, electronics, and other offerings. The company is headquartered in Los Angeles, CA (www.webxu.com).
“We had the flexibility to execute on WebXU’s request for bridge financing, while putting in place an additional tranche of capital for future growth needs,” said Saif Mansour, Managing Partner at Breakwater. “We are very pleased to be supporting this expanding Los Angeles-based Internet media company.”
Breakwater Investment Management specializes in direct investments in small to lower middle market growth businesses with annual sales ranging between $5 million and $100 million. The firm serves as general partner of Breakwater Structured Growth Opportunities Fund, LP, a $100 million open-ended private investment partnership organized in August 2008. The fund’s investment objective is to generate both current income and capital appreciation through secured debt investments accompanied with equity participation rights, primarily in growth-oriented companies across a variety of industries. The firm is based in Los Angeles, CA (www.breakwaterfund.com).