TORONTO, March 30 /CNW/ - Wellington Financial LP, a privately-held specialty finance firm, today announced a $10 million term debt financing for a leading Massachusetts-based software and services company. Proceeds from the financing will be used to grow revenue and expand product offerings.
"We are delighted to serve high quality companies that require our True Growth Capital to meet their expanding financial needs," said Craig Netterfield, Senior Vice President at Wellington Financial. "Our proven business model gives companies the power to grow without the dilution of equity, or the near term cash crunch that comes from traditional venture debt products."
"In a three month span, we've led over $55 million of new growth financings," added Mark McQueen, President and CEO of Wellington Financial. "It's an exciting time to serve the needs of so many great entrepreneurs. And, as our investors appreciate, we've also just completed our 10th consecutive profitable fiscal year as an organization."
About Wellington Financial LP
With offices in Toronto, Canada and Santa Monica, California, Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $30 million. Wellington Financial LP is currently managing a $450 million investment program via Wellington Financial Fund III. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to Fund III. LPs include several of Canada's largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com, or the Wellington Financial team blog at www.wellingtonfund.com/blog.
SOURCE Wellington Financial LP
For further information: For further information: Amy Olah, Marketing Manager, Wellington Financial LP, Tel: (416) 682-6002, firstname.lastname@example.org