Tree Line Capital Partners, a direct lender focused on the lower middle market, served as last-out lender for a first lien credit facility to support Alianza’s acquisition of CounterPath. Bridge Bank served as administrative agent and provided a first-out term loan and revolver to support the transaction.
“Bridge Bank and Tree Line provided a comprehensive financing solution which was seamless to execute,” Brian Beutler, CEO of Alianza, said. “They took the time to understand our business and asked the right questions upfront, providing a helpful blend of an efficient and informed underwriting. We’re looking forward to the growth we expect to experience from this transaction with CounterPath and look forward to a long relationship with each of Bridge Bank and Tree Line.”
Tree Line is a private credit asset management firm focused on direct lending to the lower middle market. The firm provides first lien term loans, unitranche term loans and equity co-investments to lower middle market borrowers with between $3 million and $30 million of EBITDA in North America in transaction sizes up to $150 million.
“We’re excited to have completed this financing for Alianza, which we were able to approach based on underwriting their annual recurring revenue given the company’s longstanding history of stable growth,” Frank Cupido, a partner at Tree Line Capital Partners, said. “We’ve now completed five unitranche transactions with the Bridge Bank team … and expect to be active mutually with additional ARR transactions.”