DATA Communications Management Corp. Establishes $12 Million Non-Revolving Term Loan Facility with Crown; Announces Executive Appointments
May 01, 2018 at 04:55 pm
Share
DATA Communications Management Corp. (DCM) announced it has entered into an agreement to acquire privately-held Perennial Group of Companies. DCM also announced it has arranged a $12 million term loan from Crown Capital Fund IV LP, an investment fund managed by Crown Capital Partners Inc. to fund the cash component of the acquisition and repay other indebtedness. Chris Lund, President & CEO of the Perennial Group, will assume the role of Chief Creative and Innovation Officer of DCM. Kevin Lund, Managing Director of Global Retail Programs for Perennial, will become Senior Vice President, Chief Brand Officer of DCM. George Athanasiou, Managing Director, The Finished Line, will become Vice President, Digital Product Innovation and Development of DCM.
In connection with the acquisition, DCM has established a $12 million non-revolving term loan facility with Crown, of which approximately $7 million will be used to fund the up-front cash component of the Perennial Group acquisition and $3.5 million will be used to repay in full the outstanding balance of the Company's non-revolving credit facility with Bridging Finance Inc., with the balance being used for general working capital purposes. The Crown term loan bears interest at a fixed rate of 10% per annum and the principal amount of the loan is due at maturity, which is 60 months from closing. DCM's obligations under the Crown term loan are secured by conventional security charging all the property and assets of DCM and its subsidiaries.
DATA Communications Management Corp. (DCM) is a Canada-based marketing and business communications company that helps companies simplify the ways they communicate and operate. It provides solutions, such as workflow management, digital asset management, personalized video, location-specific marketing, multi-channel marketing workflow management, print and communications management, and marketing, strategy and creative services. DCM serves brands in vertical markets including financial services, retail, emerging markets, healthcare and wellness, Not-for-Profit, energy, hospitality, transportation, lottery, government, other regulated industries and the public sector. Its DCMFlex marketing workflow technology enables marketers to create, edit, track and execute digital and print assets ranging from email campaigns and welcome kits to retail collateral and HR training material.