White Oak Global Advisors arranged and closed a $100 million term loan to support the acquisition of a U.S.-based multi-channel IT services provider by a Canadian IT services platform. White Oak’s term loan is being used alongside a $40 million asset-based credit facility.
“The borrower operates in a very competitive, constantly evolving global industry. Following the acquisition, the company is broadly diversified across industries, geography and product lines,” Chris Gouskos, managing director at White Oak, said. “Understanding the various services and product lines and their nuanced attributes was the primary focus of our underwriting. Our ability to underwrite a loan to a very complex business is a testament to our ability to deliver financing solutions in a customer-centric and thoughtful manner.”
“This investment in the IT services sector is consistent with White Oak’s efforts to support top-performing businesses with meaningful market share, a strong base of long-term customers with recurring revenue and strong leadership,” John Felix, head of originations at White Oak, said. “It also demonstrates that we continually support our portfolio companies as their stakeholders execute their strategic plans.”
