Runway Growth Capital LLC, in collaboration with BC Partners Credit, announced a $131 million financing commitment to VertexOne, a leading provider of vertical market software solutions for utilities. This significant capital infusion is designed to accelerate VertexOne's growth and facilitate a strategic acquisition.
The funding package will enable VertexOne to refinance existing obligations, acquire Accelerated Innovations for $32.5 million, and invest in platform enhancements. This acquisition is expected to expand VertexOne's market presence in electric, gas, and water utility markets by integrating MyMeter technology with existing solutions.
Greg Greifeld, Managing Director and Deputy Chief Investment Officer at Runway, will join VertexOne's Board of Directors as part of this financing. This commitment highlights the expanded capabilities and synergistic opportunities arising from Runway's partnership with BC Partners Credit.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.