Golub Capital acted as administrative and collateral agent on a $375 million five-year term loan with a $25 million revolver that was used to support the acquisition of Marketo by Vista Equity Partners, according to a statement last week (16 August).
A Golub representative declined to provide more detail on the terms of the loan. A Vista spokesperson did not respond to messages seeking further detail by press time.
Kirkland & Ellis served as legal advisor to Vista while Marketo was advised by Wilson Sonsini Goodrich & Rosati on the transaction.
San Mateo, California-based Marketo provides marketing and relationship management software that covers lead generation, email marketing, consumer marketing, web personalisation and other services.
“We see significant value in Marketo's ability to enable organisations to increase digital intimacy and lifetime value with their customers and consumers,” said Vista co-founder and president Brian Sheth in a statement.
Golub's loan came from its late stage lending platform, which provides senior debt, subordinated debt and co-investment equity to venture-backed technology companies. Golub will typically underwrite and hold the entire facility for loans on this platform.
Vista is a private equity firm focused on investments in software and technology-enabled businesses. The firm has $26 billion in capital commitments and maintains offices in Austin, Chicago and San Francisco.
Golub is a credit asset manager with $18 billion in capital under management including leverage. The firm was founded in 1994 and runs a mid-market lending platform, late stage lending and broadly syndicated loans. Golub maintains offices in Chicago, New York and San Francisco.
Separately, Golub's BDC announced last week that it had underwritten a public offering of 1,750,000 shares of common stock at $18.35 per share. At press time, the stock was trading at $19.04 per share.