BlackLine completed the acquisition of Runbook, a Europe-based provider of financial close and automation solutions to the SAP market.

Tennenbaum Capital Partners agented a senior credit facility to support the acquisition.

The acquisition solidifies BlackLine’s position as a provider of software solutions to automate and control the entire financial close process for SAP customers worldwide and supports the company’s ongoing European expansion strategy.

“Runbook is an important investment in our future, an alignment that makes BlackLine stronger on behalf of our respective customers,” said Therese Tucker, BlackLine CEO. “Runbook’s financial close automation software solutions serve some of the largest SAP organisations in the world. The company brings a wealth of talent, technology and SAP integration and execution knowledge to BlackLine, broadening our Continuous Accounting platform by adding complementary technologies.”

Runbook co-founders Herman Heller and Rob Leesberg will continue to contribute their experience as part of the BlackLine management team.

Los Angeles-based Tennenbaum Capital Partners is an alternative investment management firm focused on direct lending for middle-market companies.