Bain Capital Credit has provided senior credit facilities to back Gryphon’s majority investment in Birmingham, Alabama-based Meazure Learning, a full-service exam delivery and online proctoring solution provider for academic, professional, and lifelong learners. No financial terms were disclosed. Raymond James served as financial advisor to Meazure on the transaction.
BOSTON — January 28, 2021 — Bain Capital Credit today announced that it provided senior credit facilities to support a majority investment in Meazure Learning (“Meazure”), a full-service exam delivery and online proctoring solution provider for academic, professional, and lifelong learners, by Gryphon Investors. The funds will be used to accelerate Meazure’s growth in the rapidly expanding education technology market.
Meazure Learning is the world’s largest remote exam proctoring company offering a full suite of assessment products and services, including proprietary exam development and delivery software as well as reporting and psychometric services, to the academic and professional testing markets. Based in Birmingham, AL, the Company employs nearly 300 people and manages a network of over 1,300 trained proctors. Meazure serves more than 1,000 clients including major universities, certification and licensure associations, standardized testing services, and corporations.
“We were impressed with Bain Capital Credit’s detailed understanding of the dynamics of the business and our financing needs,” said Jon Cheek, a Managing Director at Gryphon Investors. “We look forward to their support as we look to scale the business as demand for Meazure’s products continues to grow.”
“We’re pleased to partner with Gryphon on this investment and look forward to supporting Meazure’s growth as the company continues to solidify its position as the most secure testing network and platform in the industry,” said Olof Bergqvist, a Managing Director at Bain Capital Credit. “With a talented and deep management team and Gryphon’s investment experience in the education sector, Meazure is well-positioned as a market leader to continue to build on the company’s competitive advantages.”
Raymond James served as exclusive financial advisor to Meazure on the transaction.
About Bain Capital Credit Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $44 billion in assets under management. Bain Capital Credit invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities. Our team of more than 200 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus. Bain Capital Credit’s dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $150 million located in North America, Europe and Asia Pacific. Our dedicated global team affords us the ability to diligence the most complex situations and provide private capital to those companies.