Fifth Street Serves as Joint Lead Arranger and Joint Book Manager for First Lien Credit Facility in Support of GTCR’s Acqui...
May 11 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 Book Manager for a first lien credit
facility to support GTCR’s acquisition of Onvoy, LLC. The
financing facility included investments from Fifth Street Finance
Corp. (NASDAQ:FSC), Fifth Street Senior Floating Rate Corp.
(NASDAQ:FSFR) and other Fifth Street investment vehicles.
Onvoy is a Minneapolis, MN-based provider of wholesale
voice-enabling services across the U.S. Through its intuitive
software-based Application Program Interface and nationwide
carrier-grade network, the company helps clients build, provision
and support more innovative and integrated communication services
through easy-to-use voice, messaging and mobility solutions.
Onvoy is the 11th financing that Fifth Street has completed in
support of GTCR, and the second financing in support of a GTCR
acquisition so far in 2016. 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.
“Onvoy’s nationwide scale and Communications Enablement
capabilities have allowed the business to become a leading
wholesale provider of services to next-generation voice over IP
(VoIP) and communications providers. The U.S. voice services
industry is at a transformational stage and Onvoy is
well-positioned to capture share as the market continues to shift
to VoIP,” noted Sunny K. Khorana, Managing Director, Head of
Sponsor Coverage at Fifth Street, adding, “We are excited to
partner with GTCR and Onvoy’s exceptional management team, led by
industry veteran CEO Fritz Hendricks, on the company’s impressive
growth path.”
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 Onvoy, LLC
Onvoy, the nation’s third largest CLEC by rate center coverage,
provides an extensive array of voice and messaging communications
services to meet the needs of today’s leading telecom carriers and
services providers. Onvoy delivers API-driven origination,
messaging, termination, 911 and toll free as well as traditional
telephony services, including tandem, database and OS/DA.
White-label hosted PBX and vFax round out Onvoy’s innovative,
customer-focused solutions. Founded in 1991, Onvoy is based
in Minnesota. For more information, visit Onvoy at
www.onvoy.com.
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 60
professionals across locations in Greenwich and Chicago. For
more information, please visit fsam.fifthstreetfinance.com.
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
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