Aequum Capital Provides Refinance and Acquisition Growth Facilities for BrightWorks IT

Aequum Capital completed a two-stage senior term loan facility to refinance venture debt of $6 million, including exit fees plus additional debt capital for acquisitions of up to $2.5 million, for BrightWorks IT, a portfolio company of Cloud Equity Group._x000D_
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BrightWorks IT is a provider of managed IT services, offering businesses a suite of solutions to optimize their technology infrastructure. The company offers managed services as well as cloud, hosting, security and business continuity IT solutions for small to medium-sized companies._x000D_
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BrightWorks IT has acquired seven smaller managed services providers as it continues to support and expand its sponsor-backed platform. The delayed-draw term loan from Aequum Capital allows the company to be nimble and competitive through the LOI stage, increasing speed and certainty of closing._x000D_
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“We were immediately impressed as the team was familiar with our industry and the intricacies of providing IT services to small and mid-size businesses,” Gary Li, CFO, of BrightWorks IT, said. “They very quickly and aggressively put together a financing solution to support our needs today, as well as future growth. Aequum Capital provides us the flexibility and capability to move quickly when we identify a potential company to purchase. The partnership with Aequum will be a key component to us reaching our long-term growth goals.”