CHICAGO, April 30, 2024 — Aequum Capital recently completed a two-stage senior Term Loan facility to refinance venture debt of $6MM including exit fees plus additional debt capital for acquisitions of up to $2.5MM for BrightWorks IT, a portfolio company of Cloud Equity Group.
BrightWorks IT is a leading provider of managed IT services, offering businesses a comprehensive suite of solutions to optimize their technology infrastructure. The Company offers state-of-the-art managed services, as well as cloud, hosting, security, and business continuity IT solutions for small to medium-sized companies.
BrightWorks IT has acquired seven smaller MSP’s nationally, as it continues to support and expand its Sponsor-backed platform. The Delayed Draw Term Loan (DDTL) allows the Company to be nimble and competitive through the LOI stage increasing speed and certainty of closing.
Gary Li, CFO, stated, “We were immediately impressed as the team was familiar with our industry and the intricacies of providing IT services to small and mid-size businesses. They very quickly and aggressively put together a financing solution to support our needs today, as well as future growth. Aequum Capital provides us the flexibility and capability to move quickly when we identify a potential company to purchase. The partnership with Aequum will be a key component to us reaching our long-term growth goals.”
Aequum Capital Financial is a specialty finance lender providing fast and innovative senior asset-backed and cash flow debt facilities of up to $25 million to small and medium-sized businesses throughout the U.S.
For more information, please go to https://aequumcapital.com or contact Rick Kaufmann at [email protected].
SOURCE Aequum Capital Financial LLC
