Case Studies

Case Studies

Elm Park Capital has completed transactions in a variety of industries supporting both private equity and management owned businesses.

Alarm Monitoring

  • Type: Secondary Purchase
  • Structure: First Lien Term Loan
  • Ownership: Private Equity
  • Amount: $15.0 million

Transaction Description:

A leading private equity-backed provider of alarm monitoring services was seeking to expand its existing credit facility for growth, however one of the existing bank group lenders needed liquidity due to the investment being in an “end of life” fund. Elm Park executed a $15.0 million purchase of the fund’s holding in the syndicated first lien term loan which enabled the ensuing expansion of the credit facility. Elm Park’s experience and knowledge of the alarm monitoring industry allowed us to underwrite the transaction quickly and be a value-added partner for the company post-close. The company was ultimately sold to a large private equity firm after continued organic growth.

Transaction Description Close

Mortgage Services

  • Type: Leveraged Buyout
  • Structure: First Lien Term Loan
  • Ownership: Private Equity
  • Amount $11.0 million

Transaction Description:

A middle market financial sponsor acquired a specialty insurance and loan administration solutions provider and required flexible acquisition capital to facilitate a complex balance sheet restructuring. Elm Park made a $11.0 million investment comprised of a first lien term loan and structured the facility to help facilitate the financial sponsor’s cost reorganization and sales growth plans post close. Elm Park’s experience in the business process outsourcing industry enabled a seamless diligence process under an expedited timeframe.

Transaction Description Close

Healthcare

  • Type: Leveraged Buyout
  • Structure: First Lien Term Loan
  • Ownership: Private Equity
  • Amount: $43.0 Million

Transaction Description:

A middle market financial sponsor acquired a specialty healthcare products manufacturer and required acquisition capital to facilitate the majority recapitalization. The company characteristics and transaction dynamics required a thoughtful credit provider, and Elm Park’s experience in the healthcare industry allowed us to be a valuable partner throughout the process. Elm Park structured a $43.0 million investment comprised of a revolver and a first lien term loan and designed the facility to support the financial sponsor’s meaningful sales and marketing investment plans post close.

Transaction Description Close

Payment Processing & Software

  • Type: Refinance & Acquisitions
  • Structure: First Lien Term Loan
  • Ownership: Private Equity
  • Amount: $30.0 million

Transaction Description:

A multi-channel payment processor was seeking capital to refinance an existing credit facility and provide capital for multiple add on acquisitions. Elm Park partnered with a middle market financial sponsor to finance the combined businesses, inclusive of pro forma integration synergies, and created the structural flexibility to upsize the facility for future acquisition targets. Elm Park ultimately structured a $30.0 million investment comprised of a first lien term loan and was a valuable partner during the diligence and integration phases of the add on transactions. The Company delivered on its M&A integration plan and ultimately refinanced Elm Park with a traditional lender.

Transaction Description Close

Software

  • Type: Refinance & Recapitalization
  • Structure: First Lien Term Loan
  • Ownership: Founder-Owned with Minority Private Equity Investor
  • Amount: $26.0 million

Transaction Description:

A digital forensic tools and eDiscovery software was seeking capital for a refinance of its existing credit facility in addition to liquidity for one of the founding shareholders. Elm Park made a $26.0 million investment comprised of a first lien term loan which enabled the refinance and recapitalization of the balance sheet. Elm Park’s transactional experience and knowledge of the late-stage software space allowed us to be a value-added partner throughout the underwriting process.

Transaction Description Close

Transportation & Logistics

  • Type: Refinance & Growth Capital
  • Structure: First Lien Term Loan
  • Ownership: Founder-Owned with Minority PE Sponsor
  • Amount: $16.0 million

Transaction Description:

A nationwide provider of value-added maintenance and monitoring services for private corporate vehicle fleets was seeking capital to meet its expansion goals as it acquired new customer accounts. Elm Park made a $16.0 million investment comprised of a first lien term loan to refinance the company’s existing debt and to provide growth capital alongside a private equity sponsor who invested minority equity into the business. Elm Park also provided flexibility and additional liquidity by allowing a carve out for specific collateral allowing the existing $5 million revolving credit facility to remain in place.

Transaction Description Close

Marketing Services

  • Type: Refinancing
  • Structure: First Lien Term Loan
  • Ownership: Private Equity
  • Amount: $25.0 million

Transaction Description:

A marketing services firm focused on customer intelligence was seeking to refinance its existing capital structure to deal with pending maturities and reduce its amortization requirements. Elm Park made a $25.0 million investment comprised of a first lien term loan and small revolver to support the company and its PE sponsor’s plans for its next stage of growth.

Transaction Description Close

Healthcare

  • Type: Refinancing
  • Structure: First Lien Term Loan
  • Ownership: Founder-owned
  • Amount: $16.5 million

Transaction Description:

An insurance services firm providing patient chart auditing, coding, and reimbursement resolution services was seeking to refinance its existing lender, retire certain legacy liabilities, and buyout a minority shareholder who had exited the business. Elm Park made a $16.5 million investment comprised of a first lien term loan to support the company’s transition and exit plans. The founding management team maintained full ownership of the business and ultimately sold to a sponsor backed strategic acquirer.

Transaction Description Close

Niche Manufacturing

  • Type: Leveraged Buyout
  • Structure: First Lien Term Loan
  • Ownership: Private Equity
  • Amount: $25.0 million

Transaction Description:

A middle market financial sponsor acquired a division of a public European company. The company manufactures transport rollers for office products, mail and cash handling and other end markets. Given the Company’s worldwide operations and the corporate carve out nature of the transaction, the Sponsor required a creative and flexible capital provider. Elm Park structured a $25 million investment consisting of both an acquisition term loan and a delayed draw term loan for working capital.

Transaction Description Close