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WhiteHawk Capital Partners Provides $68.5 Million Credit Facility to Boxlight Corporation
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Rhea-AI Summary
Boxlight Corporation (NASDAQ: BOXL) has secured a $68.5 million credit facility from WhiteHawk Capital Partners to facilitate its acquisition of FrontRow Calypso LLC, refinance existing debt, and enhance liquidity for growth initiatives. This strategic move aims to expand Boxlight's product offerings in the K-12 education market, particularly enhancing communication technologies in learning environments. The financing is expected to support Boxlight's ongoing expansion efforts, reinforcing its position in the education technology sector.
Positive
Secured a $68.5 million credit facility to support acquisition and growth.
Acquisition of FrontRow enhances product portfolio and customer value proposition.
Negative
None.
LOS ANGELES--(BUSINESS WIRE)--
WhiteHawk Capital Partners, LP ("WhiteHawk"), a private credit investment manager focused on asset-based financing solutions, announced it has entered into an agreement with Boxlight Corporation (Nasdaq: BOXL) (“Company”) to provide a $68.5 million credit facility. The credit facility supports the Company’s acquisition of FrontRow Calypso LLC (“FrontRow”), refinances existing indebtedness and provides additional liquidity to continue to execute on the Company’s growth.
Boxlight Corporation develops, sells and services its integrated solution suite including interactive displays, collaboration software, supporting accessories and professional development services primarily to the K-12 education market in the U.S. and EMEA. FrontRow makes technology that improves communication in the learning environments including developing network-based solutions for intercom, paging, bells, mass notification, classroom sound, lesson sharing, AV control and management. The addition of FrontRow expands the Company’s product offerings and strengthens the value proposition to customers.
“WhiteHawk proved to be an invaluable partner. They understood our business and moved very expeditiously to a closing to support our acquisition and go-forward plan.” said Michael Pope, Chairman and CEO of Boxlight.
“Boxlight is a leader in the education technology sector that has demonstrated tremendous growth. WhiteHawk is pleased to support their acquisition of FrontRow, and continued organic growth, with a customized financing solution to help management achieve their goals.” said Bob Louzan, WhiteHawk Managing Partner.
About WhiteHawk Capital Partners
WhiteHawk Capital Partners, LP (“WhiteHawk”) is a private credit investment manager focused on asset-based financing solutions to the middle market public and private companies across a variety of industries. WhiteHawk provides senior secured financings under a variety of structures for purposes of refinancing, recapitalization, growth, acquisition, restructuring, bridge and DIP/emergence.
What is the purpose of Boxlight's $68.5 million credit facility from WhiteHawk?
The credit facility supports Boxlight's acquisition of FrontRow Calypso LLC, refinances existing debt, and provides liquidity for growth.
How does the acquisition of FrontRow benefit Boxlight (NASDAQ: BOXL)?
The acquisition expands Boxlight's product offerings in the K-12 education sector, improving communication technology in learning environments.
Who is providing financing for Boxlight's acquisition?
WhiteHawk Capital Partners is providing the $68.5 million credit facility to Boxlight.
What impact does the acquisition have on Boxlight’s position in the education technology market?
The acquisition strengthens Boxlight’s value proposition and competitive edge in the education technology sector by enhancing its integrated solution suite.
