PHILADELPHIA, Aug. 11, 2015 /PRNewswire/ -- LBC Credit Partners ("LBC"), a leading provider of financing solutions to middle market companies, provided a $70.5 million senior secured term loan to support the acquisitions of Become, Inc. ("Become") and PriceGrabber.com ("PriceGrabber") by Connexity, Inc. ("Connexity"), a Symphony Technology Group portfolio company. The proceeds were also used to refinance existing indebtedness.
Headquartered in Los Angeles, Connexity is a technology and data-driven marketing services company that leverages almost twenty years of ecommerce expertise to enable retailers and brands to understand their consumers better, acquire new customers at a lower cost, and increase sales. Connexity offers a range of marketing solutions for retailers, marketers, and their agencies, including search marketing, syndicated product listings, targeted display advertising, and audience targeting.
Become is a leader in managing CPC product listings ads, serving retailers and publishers in the U.S., Germany, U.K., France, and Italy. The December 2014 acquisition significantly increased Connexity's geographic footprint in markets like Germany and Italy and enabled Connexity to bring its extended set of products, from programmatic display to managed search services to insights, to customers in those markets.
Connexity acquired PriceGrabber in June 2014. Together, the combined company is one of the world's largest sources of high intent shopping leads that result in over $2 billion in annual sales for retailers and brands. PriceGrabber's expansive shopping-focused publisher network offers more than 2,000 retailers marketing access to tens of millions of high intent shoppers each month from leading online shopping destinations such as Yahoo!, Ask.com and PriceGrabber.com.
LBC Credit Partners served as Administrative Agent for the senior secured term loan facility.
About LBC Credit Partners
LBC Credit Partners is a leading provider of middle market financing solutions including senior term, unitranche, second lien, junior secured and mezzanine debt and equity co-investments supporting sponsored and non-sponsored transactions. With over $1.75 billion of capital commitments, LBC has made investments in companies located throughout North America across a wide range of industries and is committed to a long-term approach to debt investing. Headquartered in Philadelphia, LBC has additional offices in Chicago and Greenwich. To learn more about LBC Credit Partners, visit www.lbccredit.com. Information as of June 30, 2015
Connexity (http://www.connexity.com) leverages its 15 years' experience with its top eCommerce destinations to help retailers and marketers sell more online.
Using its retail network, proprietary technology, and advanced audience modeling, Connexity help brands find and target the right audiences on any device with programmatic media. The company also helps performance marketers get more customers with syndicated product listings on its shopping-centric publisher network, and with search marketing services that includes hands-on management of SEM, PLAs, SEO and retargeting. And with Bizrate Insights, the company helps retailers keep their customers by supplying direct consumer feedback so they can improve their customer relationships and online store experience.
Connexity, Inc., formerly Shopzilla, Inc., is headquartered in Los Angeles and operates in the United States, the United Kingdom, France, Germany, and Italy. It is owned by Symphony Technology Group (STG).
Phone: (610) 631-5702
SOURCE LBC Credit Partners