Tree Line Capital Partners, a direct lender focused on the lower middle market, served as agent and lead arranger for a first lien credit facility to support the growth recapitalization of Promevo by Cohere Capital. Tree Line provided a last-out term loan and equity co-investment to support the transaction. City National Bank provided a first-out term loan and revolver.
Promevo is a provider of IT services, solutions and software focused on Google Workspace, Chrome and Cloud Platform (GCP) technologies. As a Google partner, Promevo offers its clients resale, services and solutions leveraging its proprietary management software product, gPanel.
gPanel is a management and reporting software solution that helps clients manage users, documents, reporting, automation and security in an interface specifically built for Google Workspace.
“We are thrilled to partner with Promevo and Cohere in this transaction,” Frank Cupido, a partner of Tree Line Capital Partners, said. “The company has built an impressive reputation and is well positioned to grow its service offerings within the Google ecosystem. Tree Line’s approach involving a unitranche loan in combination with City National provided both a comprehensive and competitive lending solution that we were able to close quickly.”