Capital One served as administrative agent and joint lead arranger on a $35 million, five-year revolving line of credit for MacStadium, a provider of dedicated Mac infrastructure-as-a-service for development teams building apps in the Apple ecosystem.
The company will use the revolver to fund the purchase of new equipment and fuel additional growth.
MacStadium provides scalable, reliable and secure private clouds and dedicated servers to iOS developers, mobile testing teams and DevOps engineers around the world. During a recent keynote to announce new Mac hardware, Apple recognized MacStadium for empowering the development of some of the world’s most popular apps.
Capital One is a customer of MacStadium along with over 3,000 other companies, including industry giants such as Google and Facebook as well as innovators like Shopify, Box and Travis CI.
“The Capital One team worked closely with us to understand our financing requirements,” said Michael Landreth, MacStadium CFO. “We have a unique need for a high volume of computer, networking and storage equipment. As true experts in the technology industry, Capital One understood our business model and was able to create a flexible financing solution to support our aggressive growth plans.”
“We were happy to work with the MacStadium team to provide a longer-term, more economical approach to funding their capital expenditures,” said Michael Rhea, managing director for Capital One’s TMT lending platform.
Capital One’s TMT business provides financing for corporate growth, mergers and acquisitions, balance sheet refinancings and recapitalizations to companies across telecommunication, media and technology sectors.
