Antares served as administrative agent and sole lead arranger on senior secured credit facilities to support the recapitalization of Synoptek by Sverica Capital Management in order to fund Synoptek’s acquisition of Indusa.
Based in Irvine, CA, Synoptek is an IT services providers offering IT advisory and leadership services to organizations worldwide. With the acquisition of Indusa, Synoptek will strengthen its consulting offerings and expand its service delivery capabilities.
Sverica is a lower middle market-focused private equity firm that has raised over $700 million in investment capital across four funds. The firm acquires and actively builds companies that are, or could become, leaders in their industries.
“We were pleased with the flexibility of the Antares team and the TMT expertise that they brought to this transaction,” said Ryan Harstad, principal with Sverica. “With speed and certainty, they provided the financing we sought for this transaction.”
“We are excited to close our first transaction with Sverica, a sponsor that we have respected for some time,” said Matthew Fleming, Antares managing director. “With their experienced management team and ongoing support from Sverica, Synoptek is well-positioned to continue on their path of growth and innovation.”
