The private credit platform of Kayne Anderson Capital Advisors LP, Kayne Anderson Middle Market Credit together with Comvest Partners, has provided a US$24 million term loan for SCG Financial Acquisition Corp. The loan is to fund the business combination of Reach Media Group Holdings Inc and Symon Communications Holdings Corporation.
The deal was brokered through Kayne's lending funds for the middle market, namely Kayme Senior Credit Fund LP while Comvest Partners through its fund Comvest Capital II LP infused US$8 million of the total US$24 million loan fund.
The combination of Symon and RMG forms a leading digital signage media company that provides intelligent visual technological solutions to clients and customers as well as top notch platform offerings for digital place-based media advertisers.
According to George Sachs, Executive Chairman of RMG Networks, "I am very excited about this new business combination. Our goal is to become a premier platform for providing customers and partners intelligent visual communications solutions and we will move swiftly to capture opportunities in this highly fragmented space. I believe we have the right lenders to help execute this strategy, as demonstrated in their hard work to help us get the transaction done quickly and efficiently."
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