New York, NY June 14th, 2018
Middlemarch Securities, the investment banking arm of Middlemarch Partners, LLC (“Middlemarch”) acted as the investment banking advisor to Channel Partners Capital (“Channel”), a leading provider of small business loans. Middlemarch secured a significant equity investment from Funds advised by Elliott Management Corporation (“Elliott”), a private investment firm with approximately $35 billion in assets under management. Concurrent with the growth equity investment, Channel also refinanced its balance sheet with an expandable asset-backed facility led by CIBC Bank USA.
Middlemarch advised Channel on its growth strategy, capital needs and executing a complex transaction structure to achieve the goals of multiple stakeholders. Demetris Papademetriou of Middlemarch Partners stated, “After raising over $750 million dollars for a variety of alternative finance companies, we immediately recognized Channel’s strong management, unique customer acquisition strategy and superior performance metrics. Channel’s profile made a compelling investment candidate. With its investment from Elliott and CIBC, Channel is positioned to achieve its near-term goal of $300M in funded working capital loans.” This transaction further solidifies Middlemarch Partners’ role as the advisor of choice in the Alternative Lending sector.
Channel, a company providing working capital solutions for small to mid-sized companies through its proprietary network of over 400 equipment leasing partners will use the growth capital to scale its loan originations, operations, and technology platform; enabling more efficient financing for its clients.
Brad Peterson, CEO of Channel Partners Capital LCC., stated “This is a major milestone for Channel Partners Capital and we appreciate Middlemarch’s efforts to make it happen. They prepared us to meet many highly qualified investors and guided us through a complex transaction, culminating with finding the right partner to fuel our growth in Elliott Management.”
About Channel Partners Capital LLC.
Based in Minnetonka, Minn., Channel Partners Capital (“Channel”) is a leading provider of small business loans utilizing customized technology and business processes. Channel delivers loans to small businesses through partnerships with equipment finance companies, helping these companies provide their customers access to capital needed to grow their businesses.
Since its founding in 2009, Channel has originated over 7,000 loans generating loan receivables of over $350 million. Channel is one of a limited number of full-service, non-bank, small business lenders successfully filling the gap in small business credit availability.
About Elliott Management
Elliott Management Corporation manages two multi-strategy investment funds which combined have approximately $35 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.
About Middlemarch Partners
Middlemarch Partners is a New York, NY based merchant bank that works with companies looking for well-structured and thoughtful solutions to their capital raising, M&A, and strategic partnering needs. Middlemarch is particularly active within the alternative finance, payments, financial technology and business services sectors where companies require sophisticated equity and debt investment solutions. Middlemarch Partners conducts investment banking through Middlemarch Securities, LLC, member FINRA, SIPC.
For more information on Middlemarch Partners, LLC please visit www.middlemarchllc.com.
Media Contact: Demetris Papademetriou
SOURCE: Middlemarch Partners, LLC
Securities offered through Middlemarch Securities, LLC, Member FINRA, SIPC.