Opus Bank’s Corporate Finance division provides senior debt financing for the acquisition of Datum Corporation by Quatrefoil Capital LLC
Overview of Transaction
- Datum Corporation (“Datum”) provides managed technology services to multi-unit restaurant chains.
- Datum bundles both managed IT services and IT hardware operating leases under long-term contracts.
- Datum’s managed services offerings replace clients’ IT departments, handling both enterprise and individual restaurant level IT. The equipment can range from enterprise-level servers to restaurant point-of-sale equipment.
Significance of Transaction
- Quatrefoil Capital LLC conducts its operations using an acquisition model, which utilizes a “search fund approach” that has been successful over many years.
- Opus Bank (“Opus”) has supported 6 other search endeavors over the last 12 months. These deals have a significant overlap in the investor pool.
- Opus’ growing awareness and experience within this community and track record of success has promoted a mutual respect and comfort level spanning searchers and investors.
Opus Bank's Role
- Repetition within this search fund community allows Opus Bank to decision deals quickly, deliver proposals with a high certainty of close, and even adjust deals as necessary as negotiations and events shape the process.
- Given the asset light nature of Datum, the financing structure required an enterprise value approach.