Opus Bank’s Corporate Finance division provides $5,225,000 in senior debt financing for the recapitalization of RecruitMilitary
Overview of Transaction
RecruitMilitary is a premier full-service military-to-civilian recruiting firm in the United States. The company connects employers, franchisors, and educational institutions with men and women who are transitioning from active duty to civilian life, veterans who already have civilian work experience, members of the National Guard and reserve forces, and military spouses.
RecruitMilitary produces opportunity expos (career fairs), online job boards, and magazines as well as offering professional referral services such as contingency search.
Significance of Transaction
After successful execution of a growth plan, management and investors at RecruitMilitary looked to recapitalize the company to provide for a liquidity event and establish a more optimal capital structure.
Opus Bank's Role
Given the asset light nature of the business, the financing structure required an enterprise value approach to lending.
Late in the process, one of RecruitMilitary’s capital providers introduced unattractive terms as a condition to move forward. Opus Bank upsized its loan amounts, which allowed RecruitMilitary to take out this capital provider and pave the way for a smooth completion of the deal.