Mill Point Capital has refinanced Verinext
Verinext
Verinext is an architecture-led technology consultancy and reseller that designs, delivers and supports enterprise technology solutions to help clients build next-generation information technology infrastructure and provide a full digital experience for their end users. The company’s solutions include application development, business intelligence, infrastructure services, mobility, cybersecurity, data protection, managed services and cloud hosting services.
The Deal
Following an exceptional year of nearly 35% growth in 2022 driven by strong leadership, expanded products and services and strong industry demand driven by digitalization, cybersecurity and managed services, the company quickly outgrew its existing capital structure and began to explore alternative structures. Mill Point Capital and Verinext turned to Lincoln International to assist in arranging a new financing structure that would provide incremental capital and flexibility needed to continue executing on its business plan and the industry-leading growth rate. Lincoln acted as the exclusive financial advisor in the private placement for the transaction, exploring multiple financing structures in an opaque credit market. While leveraging its deep industry knowledge, Lincoln successfully arranged a new split lien structure that opened additional borrowing capacity and positioned the company to achieve its long-term growth plans.
Our Perspective
Peter Gnatowski, Director in Lincoln’s Capital Advisory Group, commented, “Lincoln is honored to have been selected as the trusted advisor to Verinext on such a transformative transaction. We were able to arrange a flexible financing solution with new lenders that are supportive of management’s vision and strategic objectives. We are excited to see Mill Point Capital and management continue to grow the business now that it is appropriately capitalized.”
We deeply valued Lincoln's partnership throughout the financing process. The dedicated deal team offered thoughtful and honest advice, which helped us navigate the available financing alternatives and ultimately secure a successful outcome.
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