CapX Partners announced that it has provided $7.4 million in debt financing to Two Twenty Records Management, enabling the data storage outsourcing provider to refinance its current debt facility and access working capital. Two Twenty, based in Edison, New Jersey, is owned by Topspin LBO and AUA Private Equity Partners, which bought the company in October 2010.
CapX Partners Provides up to $7.4 Million to Two Twenty Records Management to support customer growth
[Chicago, IL, and Edison, NJ — March 29, 2016] CapX Partners (CapX) has put together a customized financing structure for Two Twenty Records Management to enable them to refinance their current debt facility as well as draw-down incremental capital for customer acquisition opportunities.
Two-Twenty Records Management (“2-20”) is a leading provider of records and information management services throughout the United States. The company provides a new and innovative approach to records storage, data protection, document shredding and information management services built on compliance driven, cutting edge technology, delivered through local companies dedicated to their individual, local markets.
Through their Smart Storage Solutions® platform, 2-20 has a customer-centric approach to records management, providing clients with solutions that are proprietary, technologically advanced, and tailored to be compliance driven, secure, and cost effective. With this approach, 2-20 has serviced hundreds of customers with turnkey solutions to their document management needs. With 2-20’s expanding customer base, the company was looking to refinance current indebtedness, as well as seeking growth capital to support new customer opportunities.
CapX successfully drilled down to the drivers of our business, assessed the risks and provided us with a creative growth capital solution that allows us to continue to scale the business and create value,” stated Christopher A Marquart, CFO, Two-Twenty Records Management.
“CapX appreciated the recurring-revenue nature of 2-20’s customer relationships and were able to work with management and ownership on a strategic solution to support further customer growth,” remarked Eric Starr, Partner, CapX Partners. “We valued working with a dedicated investor group, and enjoyed working with the Topspin Partners team to get the transaction closed.”
About CapX Partners
Founded in 1999, CapX Partners (CapX) is a specialty finance company that focuses on private equity and venture backed portfolio companies looking for debt financing in the $2¬$20 million range. CapX provides senior and mezzanine debt including lease lines and favors manufacturing, distribution, technology, energy and healthcare industries with an emphasis on revenue producing fixed assets. For more information on CapX, visit www.capxpartners.com.
CapX Contact: Barrett Carlson 312.893.7410
Agency Contact: Lisa House 860.305.4969