Strategic Vision, Cloud Market Opportunity and Strong, Committed Customer Base Led to Oversubscribed, New Debt Facility
FAIRFIELD, N.J.–(BUSINESS WIRE)–11:11 Systems (“11:11”), a managed infrastructure solutions provider that empowers customers to modernize, protect and manage mission-critical applications and data, today announced the successful closing of a significant debt financing. The new debt facility, which is supported by a syndicate of leading financial institutions, was oversubscribed and is larger than 11:11’s prior debt facility.
The new debt facility replaces and extends 11:11’s prior financing, which fueled eight acquisitions, significant organic growth and technology investments. The new facility, which includes an undrawn revolving credit line, will be used to fund 11:11 Systems’ aggressive roadmap and growth strategy.
“Despite the challenges of the current macroeconomic environment, 11:11’s strategic vision, burgeoning market opportunities within our core end markets, diverse go-to-market routes and committed customer base helped to garner a new, oversubscribed debt facility with attractive terms,” said Mark Shalhoub, CFO, 11:11.
“This transaction is key to executing our growth strategy, which includes both organic growth through innovative new solutions and partnerships and pursuing additional M&A opportunities,” said Brett Diamond, CEO, 11:11. “As our customers and the larger market continue full speed towards digital transformation and hybrid cloud while simultaneously protecting and preparing their organizations against cybersecurity threats, the need for our services has never been greater.”
Fifth Third Bank was the left lead arranger and administrative agent on the financing.
11:11 is backed by Tiger Infrastructure Partners, an innovative private equity firm focused on providing transformational growth capital to middle market infrastructure companies.
About 11:11 Systems
11:11 Systems is a managed infrastructure solutions provider that empowers customers to modernize, protect and manage mission-critical applications and data, leveraging 11:11’s resilient cloud platform. Learn more at 1111Systems.com.
About Tiger Infrastructure Partners
Tiger Infrastructure Partners is an innovative private equity firm focused on providing transformational growth capital to middle market infrastructure companies. Tiger Infrastructure’s value-add approach targets growth investments across the Digital Infrastructure, Energy Transition and Transportation sectors in North America and Europe, where Tiger Infrastructure believes strong tailwinds are driving demand for new infrastructure. Tiger Infrastructure maintains offices in New York and London. For more information, visit www.tigerinfrastructure.com.
Contacts
Rolyn Parker
[email protected]
