Consulting Solutions International
Opus Bank’s Corporate Finance division provides $7,750,000 in senior debt financing for investment in Consulting Solutions International by White Wolf Capital LLC
Overview of Transaction
- Consulting Solutions International (“CSI”), established in 2000 and headquartered in Tallahassee, Florida, is a technology consulting & recruiting company providing both permanent and contract IT resources to direct clients and other large consulting companies implementing or upgrading complex ERP systems.
- CSI has become one of the fastest growing businesses in America as recognized by both Entrepreneur Magazine (HOT 500) and Inc. Magazine (Inc. 5000).
- White Wolf Capital LLC (“White Wolf”), in partnership with company Founder Scott Dungey and the management team, recapitalized CSI.
- Opus Bank (“Opus”) provided $5,250,000 in term financing to support the investment and a $2,500,000 revolving line of credit for working capital.
Significance of Transaction
- White Wolf is focused on making control investments in leading middle market companies. Preferred industries include manufacturing, business services, information technology, security, aerospace, and defense.
- Given the asset-light nature of the businesses, the financing structure required an enterprise value approach to lending.
- Opus provided a $5,250,000 cash flow facility to facilitate White Wolf’s investment in CSI.
Opus Bank's Role
- Opus worked closely with the principals at White Wolf to structure a transaction that met the needs of investors and management.
- Diligence, underwriting, and all documentation were completed within the requested time frame, and the transaction was successfully funded by the required closing date.