Location: Grandview, MO (Kansas City Metro)
Industry: Staffing and Consulting-Information Technology
DVS Role: Capital Markets Advisory
The Client: Paige Technologies, LLC. is an IT staffing and consulting firm, providing resources for: onsite maintenance, project management, structured system analyses and design, application development, in addition to software development, testing and language-based programming.
The Close: Following the management buyout of Paige Technologies, growth opportunities came to fruition quickly. Unfortunately the bank that had financed the acquisition declined to provide adequate working capital to match the ambitions of the new owners. DVS connected the management team with a new banking partner that allowed the company to refinance its senior term debt to include some permanent working capital while also providing more generous terms on the accounts receivable borrowing base for Paige’s working capital line of credit. The recapitalization was completed quickly to allow management to seize the opportunities before them.