USA – Fusion Connect, an Atlanta, GA-based managed security service provider of cloud communications and secure network solutions, raised $55M in equity funding.
The company also refinanced a $60M credit facility as part of an overall recapitalization of its balance sheet, providing full funding for its long-term growth strategy, while simultaneously reducing debt by over 80%.This equity issuance and recapitalization, led by funds affiliated with or managed by Morgan Stanley Private Credit, Ellington Management Group, and Investcorp Credit Management BDC, Inc., was supported by existing stakeholders, including 100% of the company’s creditors. Following receipt of required regulatory approvals, Morgan Stanley Private Credit, via its affiliated or managed funds, will become the majority shareholder in the company. Several members of the Fusion Connect management team also participated in the capital raise.The new capital structure enables the company to embark on organic growth by accelerating investments in product development, sales and marketing, human capital, and a next-generation client management portal.Led by Brian Crotty, CEO, Fusion Connect manages, orchestrates, and secures the critical technology infrastructure that enables the connected enterprise. Its AI-based management systems, along with its technicians, dynamically ensure application performance under any conditions. or call us at +1-866-829-4318.20/01/2022
