WhiteHorse Capital Provides New First Lien Term Loan to Support Escalon Services Acquisition of Early Growth Financial Services
LOS ANGELES – January 19, 2021 – WhiteHorse Capital, the direct lending affiliate of H.I.G. Capital, a leading global alternative investment firm with $43 billion of equity capital under management, provided a new first lien term loan to support Escalon Services, Inc. (“Escalon” or the “Company”) acquisition of Early Growth Financial Services (“EGFS”). Escalon is an Essential Business Services provider to small- and medium-sized clients, with a comprehensive service portfolio that includes CFO, Accounting, Tax, HR, Payroll, Benefits and Insurance.
“The WhiteHorse Capital team was a great financial partner throughout the transaction. We were impressed with their ability to move quickly and be creative when structuring the transaction to meet our needs, and look forward to continuing our partnership as we grow our business,” said Ruby Sahiwal, Chairman at Escalon.
Matthew Brown, Managing Director at WhiteHorse Capital, added, ” We are thrilled to support Escalon with the financing for this transformational acquisition and anticipate supporting their growth initiatives with additional capital.”
Escalon and EGFS, both based in California, are providers of cost-effective, outsourced essential back office services to small- and medium-sized clients, with a with a comprehensive service portfolio that includes CFO, Accounting, Tax, HR, Payroll, Benefits and Insurance.
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 $43 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, re- tail, food/agriculture, and specialty finance. WhiteHorse has a broad investment man- date and provides senior and subordinated debt for refinancings, growth capital, acquisi- tions, 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.