Opus Bank’s Corporate Finance division provides senior debt financing for the acquisition of mTAB LLC by Poplar Partners
Overview of Transaction
- mTAB LLC (“mTAB”) has been the choice of Fortune 1000 firms seeking to manage, analyze, and distribute survey data. mTAB SaaS based model allows large groups of people within a firm to use survey data compiled over years with greater ease and productivity.
Significance of Transaction
- The acquisition of mTAB marks the first acquisition completed by Poplar Partners.
- Poplar Partners and some of its investors presented to Opus’ senior management at the bank’s headquarters. As such, both parties developed a trust and confidence in one another which is unusual in today’s financial ecosystem.
Opus Bank's Role
- Given the asset light nature of mTAB, the financing structure required an enterprise value approach to lending.
- Opus Bank was able to evaluate the transaction and propose terms within a two-week time frame, thereby allowing Poplar Partners to move confidently through the final negotiation process of the acquisition. The final deal structure was identical to the proposed terms.