Sunflower Bank’s leveraged finance team provided $10 million in revolving and term debt commitments to support the acquisition of iolo technologies (IOLO) by RealDefense, a portfolio company of Corbel Capital Partners and Broadstream Capital Partners. The transaction closed in June 2020.
“We were pleased to work with the RealDefense team to finance the acquisition of IOLO,” David Harper, managing director of leveraged finance at Sunflower Bank, said. “Successfully closing this transaction in the current environment demonstrates Sunflower Bank’s dedication to providing senior debt capital and strategic partnerships to private equity firms and their portfolio companies. We are excited about the benefits that IOLO’s business will bring to RealDefense.”
Harper is responsible for identifying prospective leveraged finance and other corporate banking opportunities for Sunflower Bank. His career has included leadership roles in investment banking, private equity, operating companies and commercial banking. He has been involved in more than 75 corporate finance transactions, including M&A, private placements, public offerings, restructurings and cross-border opportunities. Sunflower Bank’s structured finance group launched in June 2018 and provides corporate finance services to clients and prospects with borrowing needs typically in the range of $5 million to $20 million or more. Sunflower Bank also has the ability to lead larger syndicated deals.
RealDefense, with operations in Santa Monica, CA, and managed by Gary Guseinov and Sean Whiteley, develops and markets security, privacy and optimization software/services for consumers and small businesses. RealDefense markets products such as MyCleanPC and U.S. Tech Support.
Iolo technologies develops patented technology and the software System Mechanic, which repairs, optimizes and protects computers.
Corbel Capital Partners is a Los Angeles, CA-based independent investment firm that makes non-control investments in the form of structured debt or equity securities in lower middle-market businesses.