A prominent provider of cloud-native software solutions tailored for state and local governments has recently secured debt financing from Crestline Investors. Crestline as Administrative Agent and Lead Arranger, provided a new senior secured credit facility to support the recapitalization of the business and drive growth by further enhancing its suite of applications designed to simplify governmental operations.
Crestline’s Samantha Romero, Vice-President, commented, “the business demonstrates several of Crestline's key SaaS investment criteria, including highly contracted recurring revenue, strong customer retention, and favorable GovTech market trends driving premium credit metrics and enterprise value. We look forward to continuing to support the team and sponsor as they execute their growth strategy.”
About Crestline Investors
Crestline Investors, Inc is an alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York City, Toronto and Tokyo. The Firm has approximately $18 billion in assets under management (as of December 31, 2023), and is specialized in private credit strategies, offering a diverse range of investment solutions across its direct lending, opportunistic, and portfolio finance platforms. For more information, visit www.crestlineinvestors.com.
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