Citizens provided financing to San Francisco-based PRO Unlimited Global Solutions Inc. Established in 1991, PRO Unlimited is a leading provider of end-to-end contingent workforce management solutions to a broad range of global clients and has been a Citizens client for more than 10 years.
Immediately following the aforementioned transaction, Citizens led a $265m upsize to the asset-based senior credit facilities to support the company’s acquisition of Workforce Logiq, a similar global provider of contingent workforce management technology and service solutions from funds managed by The Carlyle Group.
The first financing was new $900 million asset-based senior credit facilities, comprised of an $825 million asset-based revolving credit facility and a $75 million First In, Last Out (“FILO”) tranche, to support EQT Private Equity’s acquisition of the company from Harvest Partners, LP and its affiliates and Investcorp.
The final $1.165 billion senior credit facilities are bifurcated between a $1.065 billion asset-based revolving credit facility and a $100 million FILO tranche. Citizens is the Lead Left Arranger on both transactions.
Read more/Source: ABL Advisor
