Golub Capital has provided a $1.6 billion loan to support Harvest Partners’ investment in real estate software provider MRI Software. The capital will be used to expand MRI’s enterprise software applications. TA Associates and GI Partners will remain as backers in MRI.
NEW YORK, Feb. 10, 2020 /PRNewswire/ — Golub Capital acted as the Administrative Agent, Left Lead Arranger and Joint Bookrunner on a $1.6 billion GOLD facility to finance a substantial strategic investment in MRI Software by funds managed by Harvest Partners, LP and refinance existing indebtedness. GOLD facilities are Golub Capital One-Loan Debt facilities.
MRI Software provides mission-critical, SaaS-based enterprise software solutions to commercial and residential real estate owners, operators and investors. The strategic investment in the company will support the continued expansion of its enterprise software applications. TA Associates and GI Partners will remain investors in the company.
“Since 2017, we have been proud to support the impressive growth MRI Software has achieved through its compelling value proposition, leading market position and superb management team,” said Spyro Alexopoulos, Managing Director at Golub Capital. “We are excited to partner again with three world-class sponsors in TA Associates, Harvest Partners and GI Partners.”
“Golub Capital has been a trusted, reliable partner in the growth of MRI Software and many other software portfolio companies,” said Hythem T. El-Nazer, Managing Director at TA Associates. “Golub Capital has proven their ability to seamlessly deliver and expand large-scale one-stop solutions.”
“We thank the Golub Capital team for delivering a compelling solution,” said Dan Glickman, Partner at Harvest Partners. “We look forward to working with TA Associates and GI Partners on the next stage of MRI Software’s successful growth strategy.”
“We believe that the efficiency and simplicity of the GOLD facility is tailor-made for MRI’s growth strategy,” said Jeff Sheu, Managing Director at GI Partners. “We look forward to our close partnership with Golub Capital as we continue to invest behind MRI’s global expansion.”
About Golub Capital Middle Market Lending
Golub Capital is a market-leading, award-winning direct lender and credit asset manager, with over $30 billion of capital under management. We specialize in delivering reliable, creative and compelling financing solutions to U.S. middle market companies backed by private equity sponsors. The firm’s credit expertise also forms the foundation of our Late Stage Lending business and our Broadly Syndicated Loan investment program. Across our activities, Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from our private equity sponsor clients and investors. Founded over 25 years ago, Golub Capital today has over 475 employees and lending offices in Chicago, New York and San Francisco. For more information, please visit golubcapital.com.
About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI’s comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses — from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.
About TA Associates
TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.
About Harvest Partners, LP
Founded in 1981, Harvest Partners is a leading New York-based private equity investment firm that focuses on investments in middle-market companies in the business services & consumer, healthcare, industrial services and manufacturing & distribution sectors. This strategy leverages Harvest Partners’ 35+ years of experience in financing organic and acquisition-oriented growth companies. For more information, please visit www.harvestpartners.com.
About GI Partners
Founded in 2001, GI Partners is a private investment firm based in San Francisco, California. The firm has raised $20 billion in capital from leading institutional investors around the world to invest in private equity, real estate, and data infrastructure strategies. The private equity team invests primarily in companies in the Healthcare, IT Infrastructure, Services, and Software sectors. The real estate team invests across a broad range of platforms and strategies. The data infrastructure team invests primarily in hard asset infrastructure businesses underpinning the digital economy. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.