Caltius Mezzanine Provides $30.0 Million to Insight Global
June 30, 2010
Los Angeles, CA, June 2010 – Caltius Mezzanine is pleased to announce the recent closing of a $30.0 million financing package to support Harvest Partners’ investment in Insight Global, a leading provider of information technology staffing solutions through a network of 21 offices in the United States.
Headquartered in Atlanta, GA, Insight Global fills 10,000 IT staffing placements each year for a range of Fortune 1000 companies, including IBM, Verizon, CVS, Kaiser Permanente and Microsoft.
Caltius’ $30.0 million financing package consisted of $15.0 million of subordinated notes, $10.0 million of preferred equity, and $5.0 million of equity co-investment.
“Caltius provided Harvest with a creative financing solution that enabled speed and surety of close in a competitive transaction environment,” noted Jay Wilkins, a Principal of Harvest. “This is our first transaction with Caltius Mezzanine and we look forward to partnering with them to support Insight Global’s management team in executing on its exciting growth initiatives.”
“We are impressed with Insight Global’s people, processes and outstanding service offering,” stated Greg Howorth, Managing Director of Caltius Mezzanine. “This transaction provides Insight Global with an excellent platform to continue its growth in existing, as well as new markets.”
Based in Los Angeles, Caltius Mezzanine provides innovative capital solutions in amounts of $10 to $75 million to middle market companies throughout North America. Since its founding in 1997, Caltius Mezzanine has invested over $600 million in a broad range of industries to support acquisitions, recapitalizations, buyouts, and organic growth. Caltius Mezzanine is currently investing out of its fourth fund, Caltius Partners IV, LP, a $500 million fund that closed in May 2008. For more information or to refer an investment opportunity, please call us at (310) 996-9585.