Capital Solutions Closes $25 Million Debt Financing for Sponsored Amusement Vending Machine Platform
The Capital Solutions Group (“Capital Solutions”) announces the closing of a $25 million senior secured debt financing to refinance all of the existing indebtedness of a sponsored platform that is the largest amusement vending machine operator in the United States (the “Company”). Capital Solutions acted as the exclusive financial advisor to the Company which is majority owned by a leading middle market private equity firm.
“We continue to add to our track record of successfully executing sponsored middle market debt transactions with value-added results,” commented Brad Stewart, Partner, who led the financing for Capital Solutions. “The Company had several key objectives to accomplish in a refinancing including lowering its cost of capital by redeeming all of its subordinated debt, reducing its amortization payments, and obtaining a committed delay draw term loan to support future add-on acquisitions. We were able to effectively market the transaction to potential lenders who understood the underlying trends in each of big box retail, casual restaurant and grocery store sectors where the Company’s customers operate, and closed a financing which accomplished all of its objectives.”
About The Capital Solutions Group: We provide creative financial advisory services to closely-held Companies, Private Equity Sponsors, and Lenders in the Middle Market. Our services include: Debt Capital Raising, Recapitalizations, Financial Restructurings, and selected M&A assignments. Since our founding in 2009, we have advised on over $2 billion of debt issuance, financial restructuring, and strategic advisory assignments; these transactions have been executed primarily for private equity sponsored companies.
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