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.