Los Angeles, CA, February 25, 2015
PRNewswire— Breakaway Capital Partners Fund, L.P. today announced that it has funded a senior secured credit facility to Wave Technology Solutions Group, Inc.
Based in Irvine, CA, Wave Technology Solutions Group is a consulting services organization, delivering innovative and cost effective solutions for Enterprise Content Management, Intelligent Capture, Business Process Automation, SharePoint Development, Records and Retention Management, Enterprise Search and Classification, eDiscovery and Compliance, eMail Management and Archiving, Virtualization, Storage Design and Consolidation and Disaster Recovery and Prevention. The company has a customer base of over 200 enterprise-wide document and content management installations.
“Breakaway Capital is a great partner for Wave. They were creative and flexible. Equally as important is the wealth of experience and relationships that Breakaway’s principals bring to an entrepreneurial owned and managed company like ours,” said Matt Vaezi, Chairman and Chief Executive Officer of Wave Technology Solutions Group.
The Wave transaction represents Breakaway Capital Partners Fund’s second investment in 2015. Warren Woo, Managing Partner of Breakaway Capital Partners Fund said, “We are thrilled to provide financing to Wave. Matt and his management team have built a quality company by providing value-added solutions to its broad base of Fortune 1000 and municipality customers. This transaction is representative of Breakaway’s strategy to provide complete one-stop financing solutions for lower middle market companies, financial sponsors and independent sponsors.”
About Breakaway Capital
Breakaway Capital is a private investment firm based in Los Angeles with approximately $50 million of committed capital under management. Focused on companies with up to $5 million of EBITDA, Breakaway provides senior debt, subordinated and mezzanine debt, unitranche structures, structured equity and common equity to companies for leveraged buyouts, acquisitions, recapitalizations, restructurings and growth capital for both sponsored and non-sponsored transactions. For more information, please go to www.breakawaycap.com or contact us at firstname.lastname@example.org.