Daily News: April 21, 2017

TD Securities Agents Financing for Syntax Acquisition


Syntax Systems, a provider of cloud managed ERP services, acquired Core Services to create a North American technology services firm offering cloud managed services, application managed services and consulting services for Enterprise Resource Planning applications employed by mid and large enterprises.

TD Securities served as administrative agent and joint bookrunner and joint lead arranger with National Bank of Canada for the senior secured credit facilities with participation from CapitalSource, a division of Pacific Western Bank, and Webster Bank.

The new combined entity will have employees in offices across the U.S., Canada, India and Argentina. Syntax is headquartered in Montreal and Core Services in Somerset, NJ.

“This transaction is an important milestone for Syntax’s evolution as a world-class technology leader. What we find particularly attractive about Core Services is its innovation-driven business model, custom monitoring solutions, exceptional client base, and most of all, its team of talented and highly qualified professionals” said Syntax Co-CEO Ryan Etinson

Jim Bistis, founder and CEO of Core Services, commented, “It gives me immense pride to see the team and customers of Core Services become part of the Syntax family, a company renowned for the quality of its products and services. I am confident that this union will bring value to both organizations. I am grateful to be able to hand over the reins of Core Services to such dedicated managers and to Syntax’s great entrepreneurs and I wish them every success.”

TM Capital served as Core Services’ exclusive financial advisor in connection with this transaction, and TD Securities (USA) served as exclusive financial advisor to Syntax.