Fifth Street Management, an affiliate of Fifth Street Asset Management, served as joint lead arranger and joint book manager for a first lien credit facility to support GTCR’s acquisition of Onvoy. The financing facility included investments from Fifth Street Finance, Fifth Street Senior Floating Rate and other Fifth Street investment vehicles.
Minneapolis-based Onvoy provides wholesale voice-enabling services across the U.S. The company helps clients build, provision and support more innovative and integrated communication services through easy-to-use voice, messaging and mobility solutions.
“Onvoy’s nationwide scale and communications enablement capabilities have allowed the business to become a leading wholesale provider of services to next-generation voice over IP (VoIP) and communications providers. The U.S. voice services industry is at a transformational stage, and Onvoy is well-positioned to capture share as the market continues to shift to VoIP,” said Sunny K. Khorana, managing director, head of Sponsor Coverage at Fifth Street.
Onvoy is the 11th financing that Fifth Street has completed in support of GTCR and the second financing in support of a GTCR acquisition in 2016.
Chicago-based GTCR is a private equity firm focused on investing in growth companies and has deployed over $12 billion in over 200 businesses since its inception.
Fifth Street Asset Management is a nationally recognized credit-focused asset manager.