Barings Extends Senior Credit Facility To Support Refinancing, Add-On for Battery Ventures' Forterro Unit
(Thomson Reuters ONE) -
CHARLOTTE, N.C., Feb. 08, 2017 (GLOBE NEWSWIRE) -- Barings, one of the world's
leading asset management firms, announced today that it acted as mandated lead
arranger of a senior secured credit facility to support Battery Ventures'
portfolio company Forterro.
Forterro is a group of European specialized enterprise resource planning (ERP)
software companies serving a diverse set of small- to medium-sized enterprises
across a variety of sectors. The company will use the credit facility to
refinance existing debt and to fund the acquisition of BPSC, a Polish provider
of ERP software solutions for manufacturing, wholesale and retail customers.
"Battery Ventures appreciates the contributions of Barings' European private
finance team in supporting Forterro on these strategic growth initiatives," said
Morad Elhafed, partner at Battery Ventures. "The experience and depth of the
Barings team enabled it to deliver a complex multi-currency credit facility on a
tight timetable."
"Barings is very pleased to partner with Battery Ventures to help Forterro
optimize its financing structure and continue to execute its growth strategy
with the investment in BPSC," said Mark Wilton, a managing director at Barings.
"Forterro represents an attractive risk/return opportunity based on the highly
integrated and mission-critical nature of its software products within its
customers' businesses, its strong recurring revenue and profitability model and
its high cash generation. We are confident that the company will continue to
benefit from Battery Ventures' expertise in software and technology and strong
record of value creation."
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in
markets including software and services, Web infrastructure, consumer Internet,
mobile and industrial technologies. Founded in 1983, the firm backs companies at
stages ranging from seed to private equity and invests globally from offices in
Boston, the San Francisco Bay Area and Israel. Follow the firm on Twitter
(at)BatteryVentures and visit www.battery.com to learn more.
About Barings LLC
Barings is a $271 billion* global asset management firm dedicated to meeting the
evolving investment and capital needs of our clients. We build lasting
partnerships that leverage our distinctive expertise across traditional and
alternative asset classes to deliver innovative solutions and exceptional
service. A member of the MassMutual Financial Group, Barings maintains a strong
global presence with over 1,700 employees and 600 investment professionals
across 41 offices in 17 countries. Learn more at www.barings.com.
*As of December 31, 2016
17/104
Contact:
(U.K.) Ali Dyson, Barings, +44 (0) 20 7214 1093, alison.dyson(at)barings.com
(U.S.) Brian Whelan, Barings, 704.805.7244, brian.whelan(at)barings.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Barings via GlobeNewswire
Datum: 08.02.2017 - 11:00 Uhr
Sprache: Deutsch
News-ID 522732
Anzahl Zeichen: 3568
contact information:
Town:
Charlotte
Kategorie:
Business News
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