Beacon Capital Advisors, an affiliate of Beacon Mergers & Acquisitions, is pleased to have acted as the exclusive advisor for a leading managed payroll solutions service provider in securing a term-loan of $1 million.
The Client
Beacon’s client is a global payroll management company which offers cloud-based multilingual and multi-currency payroll systems and full-service payroll management solutions including scheduling, tax reporting and e-filing. Through its web-based platform the company provides clients 24/7 access for data management, allowing quick implementation and training. The company also provides corporate accounting support and other services for human resource management and has demonstrated fast growth since inception with a large book of international clients.
The Problem
In the Winter of 2020, the company approached Beacon Capital Advisors with the mandate of debt restructuring with the goal of taking advantage of lower interest rates to support further business growth and capital needs. Possible recapitalization and bringing in equity partners were also discussed as possible solutions.
The Solution
Given Beacon’s expertise in corporate finance and M&A advisory, the team assessed that restructuring of the existing debt will be more advantageous to the business than recapitalization and was able to secure a Class A senior lender’s facility of $1 million to address the company’s needs at extremely favorable terms to the client.