Over the past three months, Aegis closed $15MM in new commitments to round out a very successful year and kickstart 2022 as we continue to execute on providing lower middle market companies with flexible growth capital. A sampling of the transactions included a revolver to a Midwest paper distributor along with an owner-occupied real estate mortgage, an increased line of credit to a nurse staffing company that outgrew its existing bank financing and a recurring revenue debt facility to an early stage software provider.
Additionally, over the past month, two longstanding Aegis clients had successful M&A exits:
Landscape Maintenance and Installation Company: Aegis provided a $4.5MM facility to this Florida based, family-owned business in 2017 when it was partially acquired by a PE Group. Aegis structured an ABL revolver to assist with growth and acquisitions. Over the course of 5 years, the business completed numerous bolt-on acquisitions and grew annual revenues to over $100MM. The company was recently sold for a 9-figure valuation providing a great return for the PE Group and the family, which retained a significant ownership stake along with key management.
IT Consulting Business: The founder was seeking early-stage financing for his newest venture in 2019. He had previously started and sold several similar companies internationally and was looking to obtain a line of credit from banks, however was repeatedly turned away due to the start-up nature of the business. Given the founder’s stellar track record and Fortune 500 client base, Aegis initially provided a $750,000 Line of Credit (later increased to $1,500,000) to support operations and growth. The business expanded from zero revenue in 2018 to over $15MM in revenue in 2021 and achieved a very successful exit for its shareholders through the sale to a strategic buyer with a valuation in excess of $20MM.
Download the full announcement: Aegis Announcements 02.2022