FusionConnect, a managed security service provider that offers secure network solutions and cloud communications in Atlanta, GA, has raised $55M equity funding.
As part of its overall recapitalization, the company also refinanced a $60M credit line. This provided full funding for its long-term growth strategy and reduced debt by more than 80%.
Existing stakeholders supported the equity issuance and recapitalization led by Ellington Management Group funds, Morgan Stanley Private Credit and Investcorp Credit Management, BDC, Inc. and Ellington Management Group funds. After receiving the required regulatory approvals Morgan Stanley Private Credit will become the majority shareholder of the company through its affiliated or managed funds. The capital raise was also attended by several Fusion Connect managers.
The company’s new capital structure allows it to accelerate investments in product development and sales, as well as a portal for client management.
Fusion Connect’s CEO Brian Crotty manages, orchestrates and secures critical technology infrastructures that enable connected enterprises. Fusion Connect’s AI-based management system and its technicians dynamically ensure that applications perform under all conditions. Call us at +1-866-829-44318