MidCap Financial Closes $85.0mm Senior Secured Credit Facility to Avison Young
April 2, 2024
Source: MidCap Financial
BETHESDA, MD, April 3, 2024 – MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a $85.0mm senior secured credit facility to Avison Young (“Avison Young” or the “Company”). The MidCap credit facility is part of a comprehensive financial recapitalization transaction (“Transaction”). The Transaction reinforces the Company’s financial foundation by reducing its financial obligations by more than half and securing additional capital to advance its strategic goals. Proceeds from the credit facility were used to refinance the Company’s existing credit facility and will support Avison Young’s ongoing working capital needs.
About the Company
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community. For more information, visit www.avisonyoung.com.
About MidCap Financial
MidCap Financial is a middle-market focused, specialty finance firm that provides senior debt solutions to companies across all industries. As of December 31, 2023, MidCap Financial provides administrative or other services for over $50 billion of commitments*. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, Inc, pursuant to an investment management agreement. Apollo had assets under management of approximately $651 billion as of December 31, 2023, in credit, private equity and real assets funds.
For more information about MidCap Financial, please visit www.midcapfinancial.com.
For more information about Apollo, please visit www.apollo.com.
*Including commitments managed by MidCap Financial Services Capital Management LLC, a registered investment adviser, as reported under Item 5.F on Part 1 of its Form ADV
Contact:
MidCap Financial Services, LLC
Garrett Fletcher, Product Head – ABL
301-841-6439
gfletcher@midcapfinancial.com