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ASG Software Solutions Announces Closing of $250 Million Loan Facility from TPG Opportunities Partners
By: Business Wire
Dec. 17, 2012 08:10 AM
ASG Software Solutions, an innovator in enterprise IT and business software solutions, announced today that it has closed on its previously announced $250 million loan facility with TPG Opportunities Partners, the special situations platform of TPG.
“The loan facility from TPG Opportunities Partners has allowed the company to refinance a previous loan, and secures ASG’s future growth plans,” said Arthur L. Allen, Chief Executive Officer of ASG. “We are glad to have the confidence of TPG as we look to improve our operations and invest in innovation and growth.”
As previously announced, ASG also will appoint two independent board members to its Board of Directors in conjunction with the loan facility. The new board will provide strategic guidance to ASG’s management team.
Bank of America Merrill Lynch acted as ASG’s financial advisor in arranging the financing with TPG. Huron Consulting Group (NASDAQ: HURN) acted as ASG’s restructuring advisor.
A recognized innovator in enterprise IT and business software solutions, ASG Software Solutions has been optimizing 85 percent of the world’s most complex IT organizations for over 25 years. We create and deploy unique software solutions that reduce cost, mitigate risk and improve service delivery throughout the IT lifecycle. ASG’s comprehensive solutions help you solve today’s challenges, such as cloud computing and big data, while driving your business forward by providing insight and control across cloud, distributed and mainframe environments. For more information about ASG, visit www.asg.com.
About TPG Opportunities Partners
TPG Opportunities Partners is the dedicated credit platform of TPG, a leading global private investment firm founded in 1992 with $54.5 billion of assets under management and offices in San Francisco, Fort Worth, Austin, New York, Sao Paulo, Hong Kong, London, Paris, Luxembourg, Melbourne, Moscow, Mumbai, Shanghai, Chongqing, Beijing, Singapore and Tokyo. For more information visit www.tpg.com.
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