Babson Capital Management said Monday that it acted as lead arranger of a loan to support Bridgepoint’s buy of eFront. Babson said it co-arranged the debt financing to support the acquisition alongside a group of banks. In January, peHUB reported that Bridgepoint was buying eFront, a Paris financial software company. Reuters News then reported that banks had lined up to provide 130 million euros ($145.89 million) of loans to back the sale to Bridgepoint.
CHARLOTTE, N.C., March 16, 2015 /PRNewswire/ — Babson Capital Management, a leading global asset management firm with more than $212 billion in assets under management (together with its global affiliates, “Babson”), today announced that Babson acted as a mandated lead arranger of financing to support European private equity investor Bridgepoint’s acquisition of French financial industry software provider eFront.
Babson co-arranged the debt financing in support of the acquisition alongside a group of banks. Accounts managed by Babson, one of the largest managers of leveraged loans in Europe, participated in the term debt portion of the transaction, which also included a revolving credit facility and a capex/acquisition facility.
Headquartered in France and founded in 1999, eFront provides end-to-end solutions dedicated to the financial services industry, specializing in enterprise risk management and alternative investments. Its solutions serve more than 700 customers and 100,000 users in 40 countries, including some of the largest companies in the private equity, real estate investment, banking and insurance sectors.
“Babson greatly values our longstanding relationship with Bridgepoint and we are pleased to provide support for the investment in eFront,” said David Wilmot, Managing Director at Babson. “We are excited about the strength of eFront’s business model, its unique positioning with private equity sponsors and alternative investments managers, and its ability to provide customized solutions that create a highly loyal customer base. We are confident that Bridgepoint’s financial and operational support will help the company reach its potential to deliver robust revenue and profit growth.”
Bridgepoint is a major international private equity group focused on investing in market-leading businesses valued between €200 million and €1 billion and working with management teams to create and realize significant value. Bridgepoint assembles the best European teams with the relevant sector and transaction experience in order to identify opportunities to position portfolio companies for long-term growth. Bridgepoint’s lower middle market business, Bridgepoint Development Capital, specializes in investments in businesses valued up to a €150 million. Learn more at www.bridgepoint.eu.
About Babson Capital Management
Babson Capital Management LLC is a leading global asset management firm with over $212 billion in assets under management as ofDec. 31, 2014. Through proprietary research, analysis and a focus on investment fundamentals, the firm and its global affiliates develop products and strategies that leverage its broad expertise in global fixed income, structured products, middle market finance, commercial real estate, alternatives and equities. Part of the MassMutual Financial Group, Babson maintains a strong global footprint with operations on four continents and clients in over 20 countries. Learn more at www.babsoncapital.com