FORT WORTH, Texas, Dec. 1, 2016 /PRNewswire/ -- Crestline Specialty Lending ("CSL"), a part of the opportunistic investment group of Crestline Investors, Inc. ("Crestline"), a credit-focused institutional alternative asset manager, is pleased to announce the recent closing of a senior credit facility (the "Facility") to support Southfield Capital's ("Southfield" or the "Sponsor") acquisition of Ntiva, LLC ("Ntiva" or the "Company"). CSL's Facility consisted of a revolving credit facility, term loan and delayed draw term loan.
Ntiva, headquartered in McLean, Va., is a full-service provider of outsourced managed IT services for small and medium-sized businesses. Ntiva generates revenue by providing a full suite of IT management and support services to its clients, including 24/7 remote help-desk support, outsourced Chief Information Officer services, procurement of IT hardware and software, IT consulting, and hosted and managed services. Ntiva presents a compelling value proposition to its clients, as it provides a turnkey solution for customers' IT needs without the associated capital expenditures and personnel expense required for an in-house IT department.
"We chose to work with Crestline's Specialty Lending team due to their deep experience in outsourced IT services," said Heb James, Partner at Southfield. "CSL was a great partner throughout the transaction process and their flexible credit facility will help Ntiva continue to capitalize on near-term growth opportunities."
"We have been impressed with the strength of Ntiva's management team and the growth the Company has achieved to date," said Will Palmer, Director at Crestline. "We are excited to provide financing for Southfield's acquisition of the business and look forward to supporting Ntiva's next stage of growth."
About Crestline Specialty Lending
Crestline Specialty Lending seeks to provide $10-100 million senior secured, unitranche and second lien financings to lower-middle and middle market companies in North America and Europe. CSL lends to companies with highly recurring revenues and has significant experience in technology, media, telecom and healthcare. CSL typically lends to businesses with $4mm+ of EBITDA and can also lend to companies with minimal cash flow on a multiple of recurring revenues.
About Crestline Investors, Inc.
Crestline Investors, Inc., founded in 1997 and based in Fort Worth, Texas, is a credit focused institutional alternative investment management firm. Crestline specializes in credit, opportunistic investments, and hedge fund and beta solutions. In addition to its Fort Worth, Texas headquarters, the company maintains affiliate offices in New York City, Chicago, London, Toronto and Tokyo. For more information, please visit www.crestlineinvestors.com.
About Southfield Capital
Southfield is a private equity fund manager based in Greenwich, CT that makes control investments in growth-oriented lower middle market companies in the US and Canada. Southfield targets companies with EBITDA between $4mm to $12mm. For more information about Southfield, please visit www.southfieldcapital.com.
About Ntiva, LLC
Ntiva is a full-service provider of outsourced managed IT services for small to medium-sized business. The Company provides a full suite of IT management and support services, including cloud management, remote monitoring, backup and disaster recovery, and strategic consulting. Founded in 2004, Ntiva has won numerous awards and acknowledgments in its 12 year history, including being voted one of the 50 Best Places to work in the Greater Washington D.C. area for eight consecutive years. For more information, visit www.ntiva.com.
For more information, please contact:
Credit & Opportunistic Investment Opportunities:
+1 212-279-3115 ext. 243
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SOURCE Crestline Investors, Inc.