Ares to acquire Fortna in deal cutting $1.8B in debt
What's the deal? Atlanta-based systems integrator FortnaDealroom has a profile for this one. Try Dealroom → will be acquired by Los Angeles investment firm Ares ManagementDealroom has a profile for this one. Try Dealroom → and other lenders. The recapitalisation aims to reduce Fortna's debt by $1.8 billion and raise $150 million in cash.
Why now? The deal lets Fortna continue operating while cutting its interest payments. Fortna said majority ownership will transition to its existing lenders through the recapitalisation.
What it means. Fortna helps customers optimise complex distribution and fulfilment operations. It expects a stronger balance sheet after the transaction closes, subject to standard closing conditions.
"Following this transaction, we will have a stronger balance sheet and enhanced financial flexibility," CEO Rob McKeelDealroom has a profile for this one. Try Dealroom → said in a release. He added that Fortna would be "well positioned to execute our strategy with discipline and confidence."
Fortna said the deal will have no impact on its vendors, suppliers and business partners. It will continue operating as normal until closing.
The signal. The deal moves Fortna from one private equity owner to another. Thomas H. Lee PartnersDealroom has a profile for this one. Try Dealroom → acquired the company in 2019, then merged it in 2022 with fellow systems integrator MHS GlobalDealroom has a profile for this one. Try Dealroom →, another firm in its portfolio.
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