GREENWICH, Conn. — Silver Point Capital has led the $600 million secured term loan backing Bending Spoons’ $233 million acquisition of streaming technology company Brightcove Inc., the firms announced Monday.
Bending Spoons, an Italy-based digital technology company, secured the financing to fund the acquisition and strengthen its balance sheet for future investments. Silver Point served as the lead lender and Documentation Agent, while J.P. Morgan acted as Lead Left Arranger and Administrative Agent on the deal.
“Silver Point is excited to support the growth of another successful, founder-owned business,” said Anthony DiNello, Head of Direct Lending at Silver Point Capital. “Bending Spoons is executing a smart, differentiated strategy that has generated strong performance and growth, and we are pleased to provide the company with this secured term loan—representing its first institutional debt financing—to execute its planned acquisition strategy.”
Bending Spoons operates a portfolio of widely used digital platforms, including Evernote, Issuu, Meetup, Remini, StreamYard, Splice, and WeTransfer, serving more than 300 million users each month.
Silver Point Capital, founded in 2002, is a global credit investment firm managing $38 billion in assets. Its Direct Lending business specializes in customized financing solutions for middle-market companies, with over $16 billion in investable assets.
