Golub Capital announced today that as Administrative Agent, Sole Bookrunner and Sole Lead Arranger, it provided GOLD financing to The Carlyle Group to finance its acquisition of NetMotion Wireless, Inc. from Clearlake Capital Group. GOLD financings are Golub Capital One-Loan Debt facilities.
NetMotion provides mobile performance management software that accelerates business-critical applications, hybrid networks and mobile devices. The company's products are lauded throughout the industry, having won over 30 industry awards for outstanding technology. NetMotion's products are used by more than 3,500 organizations globally across multiple industries including utilities, healthcare, telecommunications, public safety, government, insurance and manufacturing. Their solutions significantly improve the mobile end-user experience and empower IT with a software-defined mobility platform to manage their mobile enterprise.
"We are thrilled to partner with The Carlyle Group on a One Carlyle deal for the next chapter of the NetMotion story. NetMotion provides private and public organizations from first responders to large enterprises with vast networks vital connectivity for essential day to day operations," said Hyun Chang, Managing Director at Golub Capital. "We are fortunate enough to maintain strong relationships with industry-leading private equity partners like Clearlake, which afforded us an early look at this attractive opportunity. We look forward to continuing our relationships with our partner firms, which have strong track records and high growth potential."
Michael Wand, Managing Director at The Carlyle Group and Head of the Carlyle Europe Technology Partners team, said: "Having worked with the CEO Christopher Kenessey before at a former portfolio company, we are confident that he and his team will be able to develop NetMotion into a next-generation mobile performance management solution provider with global scale. This is a true One Carlyle deal, with two Carlyle funds supporting the transatlantic expansion growth plans of a mid-sized US technology business that was looking for a partner with industry expertise and worldwide reach. One of the key growth regions for NetMotion is Europewhere the company has early customer successes and a market ready for disruption."
Behdad Eghbali, Managing Partner at Clearlake said, "Golub Capital was the obvious choice when seeking a reliable, efficient partner. Based on our Syncsort financing experience, Golub's unitranche debt solution provides a myriad of benefits to the sponsor, making it a stable and reliable financing option."
NetMotion marks the second lead software transaction Golub Capital has completed with The Carlyle Group. Golub Capital provided Carlyle with a GOLD facility to partner with company management to acquire ECi Software Solutions in 2014.
About Golub Capital Middle Market Lending
Golub Capital's Middle Market Lending group provides financing for middle market, private equity-backed transactions with hold positions of up to $300 million and is an arranger of credit facilities up to $750 million. Golub Capital's award winning team strives to establish long-term, win-win partnerships by providing dependable, fast and creative solutions that meet private equity sponsors' and portfolio companies' needs.
Golub Capital is a nationally recognized credit asset manager with over $18 billion of capital under management. For over 20 years, the firm has provided credit to help medium-sized U.S. businesses grow. The firm's award-winning middle market lending business helps provide financing for middle market companies and their private equity sponsors. Golub Capital's credit expertise also forms the foundation of its Late Stage Lending and Broadly Syndicated Loan businesses. Golub Capital has worked hard to build a reputation as a fast, reliable provider of compelling finance solutions, and we believe this has inspired repeat clients and investors. Today, the firm has over 300 employees with lending offices in Chicago, New York and San Francisco. For more information, please visit www.golubcapital.com
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $176 billion of assets under management across 127 funds and 164 fund of funds vehicles as of June 30, 2016. Carlyle's purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,650 people in 35 offices across six continents.
About Clearlake Capital Group
Clearlake Capital Group, L.P. is a private investment firm with a sector-focused approach. The firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational and strategic expertise. The firm's core target sectors include technology, communications and business services; industrials, energy and power; and consumer products and services. Clearlake currently has over $3.5 billion of assets under management. More information is available at www.clearlake.com.
