Baker McKenzie has advised Protecht Group Holdings Pty Ltd ("Protecht"), an affiliate of PSG Equity, LLC ("PSG") with regard to a AUD 141 million financing provided in connection with a dividend recapitalisation and selective capital reduction. The loans consisted of a AUD 100 million term loan, a AUD 25 million delayed draw term loan, a $11,000,000 'synthetic PIK' / specified interest facility, and a multicurrency revolving facility comprised of an AUD 5 million tranche and a USD 5 million tranche. The financing, led Monroe Capital Management Advisors, LLC and Jefferies Credit Partners LLC as joint lead arrangers and bookrunners, marks one of the first utilisations of a DDTL / synthetic PIK structure in the Australian market.
With offices in Sydney, Los Angeles, and London, Protecht Group provides innovative risk management solutions, including the Protecht ERM (enterprise risk management) platform, helping businesses to manage risk holistically, transitioning from spreadsheets and manual processes to efficient, integrated systems. PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams.
Baker McKenzie's leveraged finance team was led by partner Hamish McCormack, supported by special counsel Lisa Mazor and associates Leandros Pandoulis and Stephanie Vesel. Partner Liam Hickey served as lead relationship partner for PSG and Protecht, and led all equity and regulatory aspects of the transaction. Partner Miles Hurst provided tax advice. All members of the Baker McKenzie team are based in the firm's Australian offices.
Weil, Gotshal & Manges LLP led all US components of the transaction.
With offices in Sydney, Los Angeles, and London, Protecht Group provides innovative risk management solutions, including the Protecht ERM (enterprise risk management) platform, helping businesses to manage risk holistically, transitioning from spreadsheets and manual processes to efficient, integrated systems. PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams.
Baker McKenzie's leveraged finance team was led by partner Hamish McCormack, supported by special counsel Lisa Mazor and associates Leandros Pandoulis and Stephanie Vesel. Partner Liam Hickey served as lead relationship partner for PSG and Protecht, and led all equity and regulatory aspects of the transaction. Partner Miles Hurst provided tax advice. All members of the Baker McKenzie team are based in the firm's Australian offices.
Weil, Gotshal & Manges LLP led all US components of the transaction.
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