Case Studies

Case Studies

Elm Park Capital has completed transactions in a variety of industries supporting both private equity and management owned businesses.

Software

  • Type: Leveraged Buyout
  • Structure: First Lien Term Loan
  • Ownership: Private Equity
  • Amount: $10.0 million

Transaction Description:

A middle market financial sponsor acquired a publicly traded provider of field service management software in a take-private transaction. Elm Park provided a $10.0 million first lien term loan to support the acquisition. Elm Park’s experience in the later stage software sector resulted in a flexible structure which allows the Company to pursue a growth strategy more effectively as a private enterprise.

Transaction Description Close

Mortgage Services

  • Type: Leveraged Buyout
  • Structure: First Lien Term Loan
  • Ownership: Private Equity
  • Amount $11.0 million

Transaction Description:

A middle market financial sponsor acquired a specialty insurance and loan administration solutions provider and required flexible acquisition capital to facilitate a complex balance sheet restructuring. Elm Park made a $11.0 million investment comprised of a first lien term loan and structured the facility to help facilitate the financial sponsor’s cost reorganization and sales growth plans post close. Elm Park’s experience in the business process outsourcing industry enabled a seamless diligence process under an expedited timeframe.

Transaction Description Close

Healthcare

  • Type: Leveraged Buyout
  • Structure: First Lien Term Loan
  • Ownership: Private Equity
  • Amount: $43.0 Million

Transaction Description:

A middle market financial sponsor acquired a specialty healthcare products manufacturer and required acquisition capital to facilitate the majority recapitalization. The company characteristics and transaction dynamics required a thoughtful credit provider, and Elm Park’s experience in the healthcare industry allowed us to be a valuable partner throughout the process. Elm Park structured a $43.0 million investment comprised of a revolver and a first lien term loan and designed the facility to support the financial sponsor’s meaningful sales and marketing investment plans post close.

Transaction Description Close

Payment Processing & Software

  • Type: Refinance & Acquisitions
  • Structure: First Lien Term Loan
  • Ownership: Private Equity
  • Amount: $30.0 million

Transaction Description:

A multi-channel payment processor was seeking capital to refinance an existing credit facility and provide capital for multiple add on acquisitions. Elm Park partnered with a middle market financial sponsor to finance the combined businesses, inclusive of pro forma integration synergies, and created the structural flexibility to upsize the facility for future acquisition targets. Elm Park ultimately structured a $30.0 million investment comprised of a first lien term loan and was a valuable partner during the diligence and integration phases of the add on transactions. The Company delivered on its M&A integration plan and ultimately refinanced Elm Park with a traditional lender.

Transaction Description Close

Software

  • Type: Refinance & Recapitalization
  • Structure: First Lien Term Loan
  • Ownership: Founder-Owned with Minority Private Equity Investor
  • Amount: $26.0 million

Transaction Description:

A digital forensic tools and eDiscovery software was seeking capital for a refinance of its existing credit facility in addition to liquidity for one of the founding shareholders. Elm Park made a $26.0 million investment comprised of a first lien term loan which enabled the refinance and recapitalization of the balance sheet. Elm Park’s transactional experience and knowledge of the late-stage software space allowed us to be a value-added partner throughout the underwriting process.

Transaction Description Close

Transportation & Logistics

  • Type: Refinance & Growth Capital
  • Structure: First Lien Term Loan
  • Ownership: Founder-Owned with Minority PE Sponsor
  • Amount: $16.0 million

Transaction Description:

A nationwide provider of value-added maintenance and monitoring services for private corporate vehicle fleets was seeking capital to meet its expansion goals as it acquired new customer accounts. Elm Park made a $16.0 million investment comprised of a first lien term loan to refinance the company’s existing debt and to provide growth capital alongside a private equity sponsor who invested minority equity into the business. Elm Park also provided flexibility and additional liquidity by allowing a carve out for specific collateral allowing the existing $5 million revolving credit facility to remain in place.

Transaction Description Close

Marketing Services

  • Type: Refinancing
  • Structure: First Lien Term Loan
  • Ownership: Private Equity
  • Amount: $25.0 million

Transaction Description:

A marketing services firm focused on customer intelligence was seeking to refinance its existing capital structure to deal with pending maturities and reduce its amortization requirements. Elm Park made a $25.0 million investment comprised of a first lien term loan and small revolver to support the company and its PE sponsor’s plans for its next stage of growth.

Transaction Description Close

Healthcare

  • Type: Refinance & Acquisitions
  • Structure: First Lien Revolver & Term Loan
  • Ownership: Private Equity
  • Amount: $31.0 million

Transaction Description:

A revenue cycle management business providing fully-outsourced medical billing and coding services to large, hospital-based physician groups was seeking to refinance its existing bank lender and secure committed capital to pursue an acquisition strategy. Two private equity firms owned the business, however did not have material capital to commit to the expansion plans. Elm Park committed a $31.0 million credit facility consisting of a $17.0 million term loan drawn at close, a $3.0 million committed, undrawn revolver for working capital purposes, and an $11.0 million delayed draw term loan exclusively for future tuck-in acquisitions.

Transaction Description Close

Tech Enabled Business Services

  • Type: Leveraged Buyout
  • Structure: First Lien Term Loan
  • Ownership: Private Equity
  • Amount: $14.0 million

Transaction Description:

A middle market financial sponsor acquired a background screening provider and required acquisition capital to facilitate the majority recapitalization. Elm Park made a $14.0 million investment comprised of a first lien term loan and delayed draw term loan and designed the facility to support both the initial acquisition and post-close consideration structure. Elm Park's experience in the tech enabled services industry resulted in a value-added partnership throughout the diligence and underwriting process.

Transaction Description Close