H.I.G. Capital News
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WhiteHorse Capital Provides a New Senior Secured Term Loan to Connexity, Inc. to Support the Acquisition of SkimLinks
STAMFORD – June 1, 2020 – WhiteHorse Capital, the direct lending affiliate of H.I.G. Capital ("H.I.G."), a leading global private equity and alternative assets investment firm with $37 billion of equity capital under management, provided a new senior secured term loan facility to Connexity, Inc. (“Connexity” or the “Company”) to support its acquisition of SkimLinks. California based Connexity is the leading independent provider of new ecommerce customer prospecting across the U.S. and Europe, serving the retail performance marketing industry. UK based SkimLinks is an ecommerce monetization business focused on connecting its network of 61,000+ publishers to 48,000+ retailers.
“We closed this transaction in a very challenging underwriting environment and WhiteHorse delivered in all respects: moving on a compressed timeline, being commercial on documentation, and acting with integrity throughout to close a highly impactful acquisition for Connexity. This was a great start to a partnership,” said J.T. Treadwell, Managing Director at Symphony Technology Group (“STG” or the “Sponsor”).
Mark Bernier, Managing Director at WhiteHorse Capital, added, "We are excited to partner with Connexity and STG by providing a financing solution for the Company’s acquisition of SkimLinks. We look forward to supporting the Company, management team and Sponsor as they execute on their operating strategy going forward."
JEGI acted as advisor to the Company and Sponsor.
About Connexity, Inc.
Founded in 1996 and based in Santa Monica, CA, Connexity is the leading independent provider of new ecommerce customer prospecting across the U.S. and Europe, serving the retail performance marketing industry. Retailers rely on Connexity to reach “top of funnel” new high value customers across a vast landscape of relevant publisher, search and social audiences. The Connexity offering is simple – proprietary, unified technology stack, massive audience network and a single user platform delivered as an automated managed service – to drive gross merchandise sales for its retailer customers.
About Symphony Technology Group
STG is the private equity partner to market leading companies in data, software, and analytics. The firm brings expertise, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering to build customer-centric, market winning portfolio companies, STG creates sustainable foundations for growth that bring value to all existing and future stakeholders. The firm is dedicated to transforming and building outstanding technology companies in partnership with world-class management teams. STG’s expansive portfolio has consisted of more than 30 global companies. For more information, please visit stgpartners.com.
About WhiteHorse Capital
WhiteHorse is the direct lending affiliate of H.I.G. Capital, a leading global private equity and alternative assets investment firm with $37 billion of equity capital under management.* WhiteHorse provides debt financing to middle market companies across a broad range of industries, including business services, manufacturing, healthcare, retail, food/agriculture, and specialty finance. WhiteHorse has a broad investment mandate and provides senior and subordinated debt for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. WhiteHorse professionals, across North America and Europe, have extensive experience and a proven track record of providing creative financing structures and employing a long term relationship oriented portfolio management philosophy.
* Based on total capital commitments to funds managed by H.I.G. Capital and its affiliates.