Golub Capital acted as Sole Lead Arranger and Administrative Agent on a $25 million second lien term loan to support the acquisition of SourceMedical Solutions by ABRY Partners. “Golub Capital distinguished itself to lead the financing by quickly understanding the business and working efficiently toward the finish line,” said Timothy Nickel, a Principal at ABRY. “Golub Capital was partner-oriented throughout the process and we look forward to doing more business with them in the near future.”
SourceMedical is a provider of outpatient information and revenue cycle management services for ambulatory surgery centers, specialty hospitals, and rehabilitation clinics nationwide. The company is based in Birmingham, AL (www.sourcemed.net).
“We are excited to add a high caliber borrower like SourceMedical to our software portfolio,” said Spyro Alexopoulos, a Managing Director at Golub Capital. “Further, we are thrilled to back ABRY in our first deal together and look forward to doing more with them. We have great confidence that ABRY is the right partner to lead the company through its next phase of growth.”
Golub offers buy-and-hold products ranging from $10 million to $75 million and includes one-loan financings, senior, 2nd lien and subordinated debt, preferred stock and co-investment equity. The firm also underwrites and syndicates first lien loans up to $250 million. Golub Capital will hold up to $200 million per transaction. Industries of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. In addition to its New York headquarters, Golub also has offices in Atlanta and Chicago (www.golubcapital.com).
ABRY Partners invests in the media, communications and information sectors. ABRY is currently investing ABRY Partners VII (a $1.6 billion fully-capitalized traditional private equity fund), ABRY Senior Equity III (a $750 million fully-capitalized senior equity/mezzanine fund) and ABRY Advanced Securities Fund II (a $1.2 billion fully-capitalized senior debt fund). The firm is located in Boston, MA (www.abry.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 10-11-12