CHICAGO--(BUSINESS WIRE)--The Middle Market Growth Program (MMGP), jointly managed by Antares Capital and LStar Capital, announced today it has closed a $262.5 million senior secured unitranche credit facility to support the acquisition of Vision Solutions, Inc. by Clearlake Capital Group, L.P. together with its affiliates (“Clearlake”).
Vision Solutions is a leading provider of software solutions designed to protect data, minimize downtime and maximize resources for the modern data center as enterprises migrate to the cloud. Vision’s software offerings facilitate near-zero downtime migration of data, applications, and systems using real-time replication technology to significantly reduce time, cost, and risk.
“The Antares and LStar teams understand our investment strategy for Vision Solutions, and their ability to underwrite and execute quickly made them an ideal financing partner for this transaction,” said Behdad Eghbali and Prashant Mehrotra of Clearlake. “We look forward to building on our beneficial financing relationship and partnership.”
“Vision Solutions is a market leader in a niche market with a large and diverse customer base,” said Matthew Fleming, managing director with Antares. “We’re excited to support Clearlake as they pursue growth and evaluate M&A opportunities with the Vision Solutions management team.”
MMGP provides private equity sponsors and borrowers with access to first lien unitranche loans. MMGP does not require rating agency meetings or a syndication process so deals can close in as few as three weeks.
About Clearlake Capital Group
Clearlake Capital Group, L.P. is a private investment firm with a sector-focused approach. The firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational and strategic expertise. The firm’s core target sectors include industrials, energy and power; technology, communications and business services; and consumer products and services. Clearlake currently has over $3.5 billion of assets under management. More information is available at www.clearlakecapital.com.
About Vision Solutions
Vision Solutions is the premier provider of software solutions designed to protect data, minimize downtime and maximize resources for the modern data center. It is the only company to deliver migrations, high availability, disaster recovery and data sharing across multiple operating systems, on any storage platform and in any physical, virtual or cloud environment. Its solutions perform near-zero downtime migration of data, applications and servers. It utilizes real-time replication to prevent data loss. And its software enables different database platforms to seamlessly share and consolidate data in real-time. Vision Solutions has been serving enterprises and managed service providers for over 25 years through our portfolio of Double-Take®, MIMIX® and iTERA® product brands.
About LStar Capital
LStar Capital is the credit affiliate of Lone Star Funds, a global private equity firm that invests in real estate, equity, credit and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized sixteen private equity funds with aggregate capital commitments totaling over $65 billion. Visit us at www.lstarcap.com.
About Antares Capital
Antares Capital is the leading provider of financing solutions for middle-market, private equity-backed transactions with offices in Atlanta, Chicago, Los Angeles, New York, Norwalk (Connecticut) and Toronto. Antares has facilitated more than $120 billion in financing over the past five years. Antares was named 2015 Dealmakers of the Year and 2014 Lender of the Year by Mergers & Acquisitions. Visit us at www.antares.com or follow Antares Capital on Twitter at https://www.twitter.com/antarescapital. Antares Capital is a subsidiary of Antares Holdings LP.