ORIX Leveraged Finance and Chatham Capital have provided debt financing to support the acquisition of Z Wireless by Atlantic Street Capital. ORIX announced that it had closed a combined $23.1 million facility to Z Wireless. Sioux Falls, South Dakota-based Z Wireless markets Verizon Wireless products and services.
ORIX Leveraged Finance announced today the closing of a combined $23.1 million facility to Z Wireless. Proceeds were used to finance the acquisition of Z Wireless by Atlantic Street Capital and provide for the Company’s future growth. ORIX Leveraged Finance and Chatham Capital partnered to provide the debt facility.
Headquartered in Sioux Falls, South Dakota, Z Wireless markets and sells a full suite of Verizon Wireless products and services from over 120 stores in nine Midwestern states.
The financing facility underscores the commitment of ORIX Leveraged Finance to provide acquisition and growth capital to lower middle market companies. Reinhard Freimuth, managing director and head of ORIX Leveraged Finance, said, “We are delighted to be investing and working alongside Atlantic Street in supporting Z Wireless and its management team led by Kevin Tupy.”
The partnership reinforces Chatham Capital’s commitment to small to middle market businesses and, specifically, to the retail industry. Brian Reynolds, managing partner at Chatham Capital, said, “We are happy to partner with this strong management team led by Kevin Tupy and Atlantic Street as a committed equity sponsor.”
Andy Wilkins, partner at Atlantic Street Capital, credited the financial partners with putting together a great structure. “We’re excited to work with ORIX Leveraged Finance and Chatham Capital as they provided the ability to close the transaction quickly and expand the business with significant growth capital,” Wilkins said.
About ORIX Leveraged Finance
ORIX Leveraged Finance, a business unit of ORIX USA Corporation, provides debt and equity capital to well-managed small and mid-sized businesses in all industry sectors throughout the U.S. ORIX USA Corporation (www.orix.com) is a diversified services financial firm with more than 1,400 employees and with operations or investments across the corporate, real estate and public finance markets as well as advisory and asset management services. ORIX USA is the U. S. subsidiary of ORIX Corporation, a publicly owned, international financial services company established in 1964 with headquarters in Tokyo and operations in 27 countries. ORIX Corporation is listed on the Tokyo (8591) and New York (NYSE:IX) stock exchanges.
About Chatham Capital
Chatham Capital is a finance firm that provides senior and junior loans to small to middle market companies with sustainable cash flow from operations. Headquartered in Atlanta, GA, with additional offices in Dallas, TX and Providence, RI, Chatham principally invests in health care, software, restaurants, retail, manufacturing, distribution and business services. Chatham provides financing to meet a wide range of needs, including organic growth, acquisitions, management buy-outs, corporate divestitures, recapitalizations, distressed debt and bridge loans.
About Z Wireless
Headquartered in Sioux Falls, South Dakota, Z Wireless markets and sells a full suite of Verizon Wireless products and services from over 120 stores in nine Midwestern states. It is the largest operator of exclusive Verizon Wireless Premium Retailer stores in that region. In addition to wireless services, the company also sells a comprehensive mix of wireless devices, including smartphones, voice phones, tablets, and a broad range of accessories to be used with these devices. Kevin Tupy, Chief Executive Officer of Z Wireless who founded the company in 2001, will continue to oversee all aspects of day-to-day operations and become a board member.