CHICAGO, April 30,
2024 /PRNewswire/ -- Aequum Capital recently
completed a two-stage senior Term Loan facility to refinance
venture debt of $6MM including exit fees plus additional debt
capital for acquisitions of up to $2.5MM for BrightWorks IT, a portfolio company of
Cloud Equity Group.
BrightWorks IT is a leading provider of managed IT services,
offering businesses a comprehensive suite of solutions to optimize
their technology infrastructure. The Company offers
state-of-the-art managed services, as well as cloud, hosting,
security, and business continuity IT solutions for small to
medium-sized companies.
BrightWorks IT has acquired seven smaller MSP's nationally, as
it continues to support and expand its Sponsor-backed platform. The
Delayed Draw Term Loan (DDTL) allows the Company to be nimble and
competitive through the LOI stage increasing speed and certainty of
closing.
Gary Li, CFO, stated, "We were
immediately impressed as the team was familiar with our industry
and the intricacies of providing IT services to small and mid-size
businesses. They very quickly and aggressively put together a
financing solution to support our needs today, as well as future
growth. Aequum Capital provides us the flexibility and capability
to move quickly when we identify a potential company to purchase.
The partnership with Aequum will be a key component to us reaching
our long-term growth goals."
Aequum Capital Financial is a specialty finance lender providing
fast and innovative senior asset-backed and cash flow debt
facilities of up to $25 million to
small and medium-sized businesses throughout the U.S.
For more information, please go to
https://aequumcapital.com or contact Rick Kaufmann at
rickkaufmann@aequumcapital.com.
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SOURCE Aequum Capital Financial LLC