Fifth Street Serves as Joint Lead Arranger and Joint Lead Bookrunner for First Lien Credit Facility in Support of GTCR’s Ac...
April 21 2016 - 7:00AM
Fifth Street Asset Management Inc. (NASDAQ:FSAM) (“FSAM”) announced
today that its affiliate, Fifth Street Management LLC, served as
Joint Lead Arranger and Joint Lead Bookrunner for a first lien
credit facility to support GTCR’s acquisition of Lytx, Inc.
(formerly known as DriveCam). San Diego, CA-based Lytx is the
leading provider of video-based safety solutions for commercial and
public sector fleets, helping to improve driver behavior and reduce
collisions and collision-related expenses. The financing
facility included investments from both Fifth Street Finance Corp.
(NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp.
(NASDAQ:FSFR).
Lytx is the 10th financing that Fifth Street has completed in
support of GTCR. Based in Chicago, IL, GTCR is a leading
private equity firm focused on investing in growth companies and
has deployed over $12 billion in over 200 businesses since its
inception.
“We are pleased to support our long-standing partner, GTCR, on
the acquisition of Lytx – the leading provider of video telematics
solutions that deliver identifiable and significant returns on
investment to its customers,” noted Sunny K. Khorana, Managing
Director, Head of Sponsor Coverage at Fifth Street, adding, “With
industry leading retention rates and highly innovative technology
that drives best in class products, Lytx has a proven ability to
grow across multiple avenues. We look forward to working with
both GTCR and company management over the life of the investment as
they continue to execute on strategic initiatives.”
About Fifth Street Asset Management Inc.
Fifth Street Asset Management Inc. (NASDAQ:FSAM) is a nationally
recognized credit-focused asset manager. The firm has over $5
billion of assets under management across two publicly-traded
business development companies, Fifth Street Finance Corp.
(NASDAQ:FSC) and Fifth Street Senior Floating Rate Corp.
(NASDAQ:FSFR), as well as multiple private investment
vehicles. The Fifth Street platform provides innovative and
customized financing solutions to small and mid-sized businesses
across the capital structure through complementary investment
vehicles and co-investment capabilities. With over an 18-year
track record focused on disciplined credit investing across
multiple economic cycles, Fifth Street is led by a seasoned
management team that has issued billions of dollars in public
equity, private capital and public debt securities. Fifth
Street's national origination strategy, proven track record and
established platform are supported by approximately 65
professionals across locations in Greenwich and Chicago. For
more information, please visit fsam.fifthstreetfinance.com.
About GTCR
Founded in 1980, GTCR is a leading private equity firm focused
on investing in growth companies in the Financial Services &
Technology, Healthcare, Technology, Media & Telecommunications
and Growth Business Services industries. The Chicago-based
firm pioneered The Leaders Strategy™ – finding and partnering with
management leaders in core domains to identify, acquire and build
market-leading companies through transformational acquisitions and
organic growth. Since its inception, GTCR has invested more
than $12 billion in over 200 companies. For more information
about GTCR, please visit www.gtcr.com.
About Lytx, Inc.
At Lytx® we harness the power of data to change human behavior
and help good companies become even better. Our flagship
product, Lytx DriveCam™ sets the standard for driver safety in the
industries we serve, and our RAIR® Compliance Services helps
DOT-regulated fleets comply with safety regulations, complementing
the DriveCam® Program. Lytx ActiveVisionSM service helps
detect and address distracted and drowsy driving, both in real time
and over time. We protect more than 1,400 clients worldwide
who drive billions of miles. We enable our clients to realize
significant ROI by lowering operating and insurance costs while
achieving greater efficiency and compliance. Most of all, we
strive to help save lives – on our roads and in our communities,
every day. Lytx is privately held and headquartered in San
Diego. For more information, visit www.lytx.com, @lytx on
Twitter or our YouTube channel.
Forward-Looking Statements
This press release may contain certain forward-looking
statements, including statements with regard to the future
performance of the company. Words such as “believes,”
“expects,” “estimates,” “projects,” “anticipates,” and “future” or
similar expressions are intended to identify forward-looking
statements. These forward-looking statements are subject to
the inherent uncertainties in predicting future results and
conditions. Certain factors could cause actual results to
differ materially from those projected in these forward-looking
statements, and these factors are identified from time to time in
the company’s filings with the Securities and Exchange
Commission. The company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
CONTACT:
Investor Contact:
Robyn Friedman, Executive Director, Head of Investor Relations
(203) 681-3720
ir-fsam@fifthstreetfinance.com
Media Contact:
James Golden / Andrew Squire
Joele Frank Wilkinson Brimmer Katcher
(212) 355-4449
Fifth Str SR Floating Rate Corp (NASDAQ:FSFR)
Historical Stock Chart
From May 2024 to Jun 2024
Fifth Str SR Floating Rate Corp (NASDAQ:FSFR)
Historical Stock Chart
From Jun 2023 to Jun 2024