WhiteHorse Capital Provides Financing to HomeRiver Group
STAMFORD – November 22, 2021 – WhiteHorse Capital, the direct lending affiliate of H.I.G. Capital, a leading global alternative investment firm with over $45 billion of equity capital under management, provided a new $60 million senior secured credit facility to HomeRiver Group (“HRG” or the “Company”) to provide a dividend to the TZP Group (“TZP” or the “Sponsor”), and capital to fund real estate investments. Formed in 2016 and headquartered in Plano, TX, HRG is a national provider of third-party property management services for single-family and small multi-family rentals.
“The WhiteHorse Capital team was a great financial partner throughout the transaction. We were impressed with their ability to move quickly and creatively structure the transaction to meet our needs,” said Michael Khutorsky, Principal at TZP Group.
Gina Provenzale, Managing Director at WhiteHorse Capital, added, “We are excited to partner with HRG and look forward to supporting the management team and TZP as they execute on their growth strategy going forward.”
About HomeRiver Group
HomeRiver Group is a national property management firm serving owners of single-family and multi-family rental units. In addition to property management services, HRG provides its clients with additional services such as renovation, leasing, and acquisition/disposition of individual properties. HRG currently serves clients in 29 states and 50 major markets across the country.
About WhiteHorse Capital
WWhiteHorse is the direct lending affiliate of H.I.G. Capital, a leading global alternative investment firm with over $45 billion of equity capital under management.* WhiteHorse provides debt financing to middle market companies across a wide range of industries, including Telecom, Media and Technology, Healthcare, Business Services and Financial Services. 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 the U.S. 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 managed by H.I.G. Capital and affiliates.