AFC’s wholly owned subsidiary TCGDL closed a $60 million senior secured credit facility to STAT Buyer, a holding company controlled by Cambridge Capital, formed to facilitate the combination of its existing portfolio company STAT with The Moresby Group. The proceeds from the credit facility will be used to finance the acquisition, refinance existing debt and provide working capital to support the growth of the combined entity.
“We are excited to support Cambridge and the management teams of STAT and Moresby in this transformative transaction. This combination brings together STAT’s machine-learning enabled revenue recovery technology with Moresby’s specialized procurement negotiation expertise, creating a comprehensive solution for large enterprise customers,” Daniel Neville, CEO of AFC, said. “This transaction underscores our ability to provide flexible, institutional capital to sponsor-backed companies with strong value propositions and significant growth potential in the supply chain technology sector.”
Benjamin Gordon, managing partner of Cambridge Capital, said, “We are pleased to partner with AFC on this financing that helped bring these two complementary businesses together. The speed with which AFC was able to execute and the team’s professionalism made the process seamless and efficient. We look forward to leveraging the combined strengths of STAT and Moresby to deliver material revenue and cost optimization for their clients.”
AFC holds the full $60 million credit facility, which consists of a first-lien term loan secured by all assets of the borrower. The facility has a five-year term.
