Capital One Financial Sponsors Group led a $190 million senior secured credit facility to support the recapitalization of Situs Holdings by Stone Point Capital (SPC). Capital One acted as joint lead arranger and administrative agent for the transaction.
“We’ve worked with Capital One before, so it was no surprise to us that they were able to provide the competitive financing and strategic counsel we needed,” said Situs CEO Steve Powel. “It’s clear they understand our business and our goals.”
Situs is a provider of strategic business and technology solutions to the real estate industry and participated in debt and equity deals across the U.S., Europe and Asia.
Stone Point Capital is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed seven private equity funds – the Trident Funds – with aggregate committed capital of approximately $19 billion.
“Capital One is thrilled to lead this transaction, working with both parties to bring this financing to fruition,” said Bob McCarrick, head of Middle Market Banking at Capital One. “We’re especially pleased to demonstrate our ability to grow alongside our clients.”
