Opus Bank’s Corporate Finance division partners with Tree Line Capital Partners, LLC to provide a unitranche debt facility to support Alpine Investors’ investment in MidAmerica Administrative & Retirement Solutions, LLC
Overview of Transaction
Founded in 1995, MidAmerica Administrative & Retirement Solutions, LLC (“MidAmerica”) is a leading provider of public employer benefit programs including Social Security Alternative and Special Pay plans, HRAs, FSAs, 403(b)s and GASB Trusts.
MidAmerica’s tax-advantaged retirement and health benefits programs are focused entirely on the education and government industry vertical.
Opus Bank partnered with Tree Line Capital Partners, LLC (“Tree Line”) to provide a unitranche debt facility. In addition, Opus Bank provided a revolving line of credit for working capital.
Significance of Transaction
Alpine Investors is a private equity firm specializing in investments in founder-owned, middle-market companies in the software, online, and business services sectors.
OGiven the asset light nature of these businesses, financing structures require an enterprise value approach to lending.
Opus Bank's Role
Alpine Investors desired to close the transaction within three weeks of executing the proposal letter.
Diligence, underwriting, and all documentation were completed within this time frame, and the transaction was successfully funded by the required closing date.
Opus Bank acted as administrative agent, while Tree Line served as arranger.