LBC Credit Partners, a Philadelphia-based mid-market lender, provided a $70.5 million senior secured term loan to support the acquisitions of Become Inc. and PriceGrabber.com by Connexity, a Symphony Technology Group portfolio company. The proceeds were also used to refinance Connexity’s existing debt. LBC Credit served as the
Headquartered in Los Angeles, Connexity is a technology and data-based marketing services company that helps retailers and brands attract new customers. It offers a range of marketing services, including search marketing, syndicated product listings, targeted display advertising and audience targeting.
Become manages cost-per-click product listings ads, serving retailers and publishers in the US, Germany, UK, France and Italy. The acquisition expands Connexity into Europe and deliver its products to a new customer base.
Connexity acquired PriceGrabber last year. PriceGrabber's shopping-focused publisher network offers over 2,000 retailers marketing access to millions of shoppers each month through sites, such as Yahoo and Ask.com. The acquisition brings Connexity a large source of shopping leads.
Symphony Technology Group is a tech-focused private equity firm founded in 2002. The firm is headquartered in Palo Alto, California and has $2 billion in assets under management.
LBC Credit Partners is a provider of mid-market financing options, including senior term loans, unitranche, second lien, junior secured and mezzanine debt, as well as equity co-investments. The firm supports both sponsored and non-sponsored transactions and has $1.75 billion in capital commitments. LBC is headquartered in Philadelphia and has offices in Chicago and Greenwich, Connecticut.