Monday, 14 October 2024 02:00 PM
Financing
CHANDLER, AZ / ACCESSWIRE / October 14, 2024 / Vensure Employer Solutions (Vensure), a leading provider of HR/HCM technology, today announced that Stone Point Capital Markets, a division of Stone Point Capital LLC, a private equity firm based in Greenwich, Connecticut, led a senior secured financing package that provides nearly $2.2 billion to Vensure Employer Solutions.
The financing was comprised of a new $140 million Revolving Credit Facility, a new $1,585 million Term Loan, and a new $450 million Delayed Draw Term Loan. The Revolving Credit Facility and Term Loan will refinance the existing credit facilities. The Delayed Draw Term Loan will be used to provide capacity for the Company to continue executing on its M&A strategy and other key initiatives. The deal was structured with permitted change of control provisions, subject to certain criteria.
"The financing provided by Stone Point Capital Markets enables Vensure to deliver against our growth and expansion plan," said Alex Campos, CEO of Vensure Employer Solutions. "After a robust 2024, we look forward to using this funding to accelerate our trajectory in 2025."
Vensure has successfully acquired and integrated more than 80 acquisitions since 2017, with nearly 60 of the acquisitions coming after Stone Point Capital's initial investment in 2021.
About Vensure Employer Solutions
Vensure Employer Solutions is the largest privately held organization in the HR technology and service sector, providing a comprehensive portfolio of solutions, including HR/HCM technology, managed services, and global business process outsourcing (BPO). The company and its service providers collectively serve over 141,000 businesses and process over $159B in annual payroll. As a "One Employer Solution" headquartered in Chandler, Arizona, Vensure helps thousands of businesses streamline and grow their operations with custom strategies that benefit both employers and employees. Find out more by visiting vensure.com.
About Stone Point Capital Markets
Stone Point Capital Markets ("SPCM") is a full-service capital markets platform serving corporates and sponsor-backed portfolio companies by providing tailor-made debt and equity financing solutions.SPCM has a dedicated team with the capabilities to originate, structure, arrange, underwrite and distribute a wide array of capital solutions, including structured products. SPCM includes SPC Financing Co and SPC Capital Markets LLC, which is a registered broker-dealer with the SEC, and a member of FINRA and SIPC.
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SOURCE: Vensure Employer Solutions