NEW YORK – September 27, 2021 – WhiteHorse Capital, the direct lending affiliate of H.I.G. Capital, a leading global alternative investment firm with over $45 billion of equity capital under management, provided a new $225 million senior secured term loan facility to support Cerberus Capital Management’s (“Cerberus” or the “Sponsor”) acquisition of Source Code Holdings, LLC (“Source Code” or the "Company").
Sam Goldworm, Managing Director at WhiteHorse Capital added, “We are thrilled to support Cerberus and Source Code as they execute on their growth strategy.”
“The WhiteHorse team was a great financial partner throughout the transaction. We were impressed with their ability to move quickly and meet our needs to facilitate the transaction,” said Mike Sanford, Senior Managing Director at Cerberus.
About Source Code Holdings
Founded in 1992, Source Code is a leading provider of engineered computing solutions and services operating across three business segments: customized high-performance computing/artificial intelligence hardware, edge computing, and IT services. The Company helps its global customer base securely address complex IT challenges through its edge-to-data center-to-cloud infrastructure and computing capabilities. Throughout its history, Source Code has implemented approximately 1,600 hardware configurations and delivered more than 1,000,000 edge devices.
About WhiteHorse Capital
WhiteHorse is the direct lending affiliate of H.I.G. Capital, a leading global private equity and alternative assets investment firm with over $45 billion of equity capital under management.* WhiteHorse provides debt financing to middle market companies across a broad range of industries, including business services, manufacturing, healthcare, retail, food/agriculture, and specialty finance. WhiteHorse has a broad investment mandate and provides senior and subordinated debt for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. WhiteHorse professionals, across North America and Europe, have extensive experience and a proven track record of providing creative financing structures and employing a long-term relationship-oriented portfolio management philosophy.