Cherry Hill, NJ, December 4, 2018 – Corcentric, a fast-growing provider of procurement and financial process automation solutions, today announced it has secured a $200 million senior credit facility. The capital raise consists of a $150 million senior secured asset-based loan revolver from Bank of America and JPMorgan Chase and a $50 million term loan from TCW Asset Management Company, LLC. Stephens Inc. served as exclusive financial advisor to Corcentric in this transaction.
Corcentric’s services and technology reduce operating costs for middle market and Fortune 1000 companies. In March, the company rebranded with AmeriQuest Business Services under the Corcentric name. The move signaled a unification to provide unparalleled accounts payable, billing, and procurement solutions to over 6,000 trusted partners.
“Securing this credit facility underlines our commitment to growing our business and pursuing the large market opportunity in front of us,” commented Mark Joyce, Executive VP and CFO at Corcentric. “We’re continually investing in further improving our technology and solutions, benefiting our customers as we help them to transform procurement, accounts payable, and billing.”
“Our new credit facility represents a key step in the execution of our strategic plan under the Corcentric brand,” said Doug Clark, founder and CEO, Corcentric. “From our early days to today, our DNA continues to be about providing a competitive advantage to our customer by enabling them to free up working capital and reduce expenses so they can fuel more growth.
The credit facility will be primarily used to support future growth both organically and via acquisitions both in the US and abroad.
À propos de Corcentric
Corcentric est un fournisseur mondialement reconnu de solutions Achats et Finance. Nous offrons des solutions sur mesure combinant Technologie, Services et Consulting pour permettre À nos clients d’atteindre leurs objectifs métiers en toute sérénité. Ce partenariat durable construit depuis plus de 20 ans avec nos clients est le fondement de notre succès partagé. Pour en savoir plus, visitez notre site internet corcentric.com.