Capital Southwest led the financing transaction and serves as administrative agent on the credit facility. East West Bank is a first out lender in the term loan and provided a revolving credit facility.
“We are pleased to partner with DFW on its acquisition of Vertex. DFW has deep experience in the business services sector, and we believe their capabilities will enhance Vertex’s growth opportunities.” said Douglas Kelley, managing director of Capital Southwest.
Founded in 1996, Vertex provides software and managed services to electric, water, and gas utilities throughout the U.S. and Canada. Vertex’s Customer Information System (“CIS”) manages account information, consumption, and billing data, providing a single point solution for tracking all customer interactions.
Dallas-based Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle market businesses with $5 to $25 million investments across the capital structure, including first lien, unitranche, second lien, subordinated debt and non-control equity co-investments.
Teaneck, NJ-based DFW Capital Partners is a private equity investment firm focused on lower middle-market companies.