Audax Private Debt announced, as administrative agent and sole lead arranger, it provided a unitranche credit facility to support add-on acquisitions for Charlesbank Capital Partners’ portfolio company, ImageQuix, the provider of workflow and e-commerce software for the professional photography industry. According to Investopedia, “unitranche” is “a type of debt that combines senior and subordinated debt into one debt instrument; it is usually used to facilitate a leveraged buyout.”
Based in Raleigh, N.C., ImageQuix serves more than 10,000 professional photographers and photography studios worldwide across high-volume school and sports, wedding, portrait, and event and attraction photography. The company’s service offering is the core operational software used by photography studios and is deeply embedded in customers’ businesses, enabling photographers to digitize their end-to-end workflow and more effectively monetize their images.
Based in New York, Audax Private Debt is a debt capital partner for North American middle market companies. The company says, since its inception in 2000, the firm has invested more than $35 billion in support of more than 275 private equity sponsors. Audax Private Debt works collaboratively to build tailored financing solutions for its clients through a comprehensive range of offerings that includes first lien, stretch senior, unitranche, second lien, and subordinated debt, as well as equity co-investments.