Opus Bank’s Commercial Banking division provides funds to Allied America, Inc. for acquisition financing
Overview of Transaction
- Allied America, Inc. (“AlliedPRA”) is one of the largest destination management companies in North America. AlliedPRA has been serving the destination management market for over four decades and provides services including meetings and conference management, event production, incentive programs, transportation logistic programs, authentic tours and excursions, activities and team building activities, and corporate social responsibility programs.
- Core Capital, a United Kingdom-based middle market private equity firm, purchased AlliedPRA in 2009.
Significance of Transaction
- AlliedPRA was looking for financing to acquire destination management companies to expand its operations in the United States.
- Opus Bank (“Opus”) provided an acquisition line of credit, which will allow AlliedPRA to complete multiple franchise acquisitions.
Opus Bank's Role
- Opus partnered with AlliedPRA and Core Capital to understand their business and their near-term and long-term strategic goals.
- Opus structured an acquisition credit facility that will help AlliedPRA execute its growth strategy.