Audax Private Debt, acting as administrative agent and lead arranger, provided a senior secured credit facility to support add-on acquisitions for Backstage, an online career platform for creative talent. Backstage acquired The Mandy Network, a UK-based talent platform for cast, crew, production services and creative professionals, and StarNow, a New Zealand-based talent platform for actors, models, influencers and musicians.
With the acquisitions of The Mandy Network and StarNow, Backstage’s user base now includes more than 250,000 paid subscribers, including actors, dancers, models, singers and voice-over professionals. More than 20 million content creators and talent seekers — including professional casting directors, brand and acquisition marketers, production companies, advertising agencies and corporate end-users — engage with the platform annually, according to Backstage, which is a portfolio company of TA Associates.
“Backstage has served as a leading resource for both the film and performing arts sectors for over 50 years, and the addition of StarNow and The Mandy Network will further enhance the company’s scale by broadening its geographic footprint,” Adam Weiss, managing director at Audax Private Debt, said. “We are thrilled to be supporting Backstage and are confident that TA Associates will help the company build upon this exciting momentum.”
“Audax Private Debt played a critical role in these transactions, and we appreciate their flexibility and ability to meet the timelines we set forth,” Jason Mironov, managing director at TA Associates, said. “We look forward to continuing our partnership with the Audax team as we support Backstage in its next phase of growth and expansion.”
